Owens Corning (OC) 10-Q21 Oct 152015 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2015	Oct. 15, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Owens Corning
Entity Central Index Key	1,370,946
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Well Known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Amendment Flag	false
Entity Common Stock Shares Outstanding		116,585,687

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
NET SALES	$ 1,461	$ 1,382	$ 4,082	$ 4,015
COST OF SALES	1,121	1,131	3,225	3,282
Gross margin	340	251	857	733
OPERATING EXPENSES
Marketing and administrative expenses	130	110	389	372
Science and technology expenses	18	18	53	57
Charges related to cost reduction actions	(5)	19	(5)	31
Other expenses (income), net	1	(3)	10	(15)
Total operating expenses	144	144	447	445
EARNINGS BEFORE INTEREST AND TAXES	196	107	410	288
Interest expense, net	28	28	80	86
Gains (Losses) on Extinguishment of Debt	0	0	(5)	0
EARNINGS BEFORE TAXES	168	79	335	202
Less: Income tax expense	55	27	112	9
Equity in net earnings of affiliates	0	0	1	1
NET EARNINGS	113	52	224	194
Less: Net earnings attributable to noncontrolling interests	1	0	3	1
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 112	$ 52	$ 221	$ 193
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERS
Basic (in dollars per share)	$ 0.96	$ 0.44	$ 1.88	$ 1.64
Diluted (in dollars per share)	0.95	0.44	1.87	1.63
Dividend (in dollars per share)	$ 0.17	$ 0.16	$ 0.51	$ 0.48
WEIGHTED AVERAGE COMMON SHARES
Basic (in shares)	117.2	117.4	117.5	117.5
Diluted (in shares)	118.3	118.1	118.4	118.3

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
NET EARNINGS	$ 113	$ 52	$ 224	$ 194
Currency translation adjustment (net of tax)	(38)	(59)	(81)	(64)
Pension and other postretirement adjustment (net of tax of $(1) for the three months ended September 30, 2015 and 2014, and $(4), and $(3) for for the nine months ended September 30, 2015 and 2014, respectively)	6	4	12	6
Deferred gain (loss) on hedging (net of tax of $1 and $0 for the three months ended September 30, 2015 and 2014, respectively, and $(1), and $1 for the nine months ended September 30, 2015 and 2014, respectively)	(1)	0	2	(1)
COMPREHENSIVE EARNINGS	80	(3)	157	135
Less: Comprehensive earnings attributable to noncontrolling interests	1	0	3	1
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 79	$ (3)	$ 154	$ 134

CONSOLIDATED STATEMENTS OF COM4

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Pension and other postretirement tax	$ (1)	$ (1)	$ (4)	$ (3)
Deferred loss on hedging tax	1	$ 0	(1)	1
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	$ (2)		$ (4)	$ 0

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions		Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
CURRENT ASSETS
Cash and cash equivalents		$ 62	$ 67		$ 51	$ 57
Receivables, less allowances of $9 at September 30, 2015 and $10 at December 31, 2014		861	674
Inventories		701	817
Assets held for sale		14	16
Other current assets		237	233
Total current assets		1,875	1,807
Property, plant and equipment, net		2,885	2,899
Goodwill		1,167	1,168
Intangible assets		1,004	1,017
Deferred income taxes		352	444
Other non-current assets		228	220
TOTAL ASSETS		7,511	7,555
CURRENT LIABILITIES
Accounts payable and accrued liabilities		963	949
Short-term debt		18	31
Long-term debt – current portion		3	3
Total current liabilities		984	983
Long-term debt, net of current portion		1,979	1,991
Pension plan liability		375	447
Other employee benefits liability		243	252
Deferred income taxes		18	22
Other liabilities		138	130
OWENS CORNING STOCKHOLDERS’ EQUITY
Preferred stock, par value $0.01 per share (a)	[1]	0	0
Common stock, par value $0.01 per share (b)	[2]	1	1
Additional paid in capital		3,959	3,954
Accumulated earnings		966	805
Accumulated other comprehensive deficit		(617)	(550)	$ (356)
Cost of common stock in treasury (c)	[3]	(574)	(518)
Total Owens Corning stockholders’ equity		3,735	3,692
Noncontrolling interests		39	38
Total equity		3,774	3,730
TOTAL LIABILITIES AND EQUITY		$ 7,511	$ 7,555

[1]	shares authorized; none issued or outstanding at September 30, 2015, and
[2]	0 shares authorized; 135.5 issued and 116.7 outstanding at September 30, 2015; 135.5 issued and 117.8 outstanding at
[3]	shares at September 30, 2015, and 17.7 shares at

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 9	$ 10
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	400,000,000	400,000,000
Common stock, issued	135,500,000	135,500,000
Common stock, outstanding	116,700,000	117,800,000
Treasury stock shares	18,800,000	17,700,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Statement of Cash Flows [Abstract]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements	$ 0	$ (1)
Net Income (Loss) Attributable to Parent	221	193
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET EARNINGS	224	194
Adjustments to reconcile net earnings to cash provided by operating activities:
Depreciation and amortization	224	229
Gain on sale of fixed assets	(1)	(50)
Net loss on sale of European Stone business	0	20
Deferred income taxes	75	(4)
Provision for pension and other employee benefits liabilities	10	14
Stock-based compensation expense	22	21
Other non-cash	(6)	(28)
Gains (Losses) on Extinguishment of Debt	(5)	0
Change in working capital	(102)	(257)
Pension fund contribution	(59)	(51)
Payments for other employee benefits liabilities	(16)	(16)
Other	18	(10)
Net cash flow provided by operating activities	384	62
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Additions to plant and equipment	(240)	(216)
Proceeds from the sale of assets or affiliates	3	65
Net cash flow used for investing activities	(237)	(162)
NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	1,079	1,068
Payments on senior revolving credit and receivables securitization facilities	(1,082)	(919)
Payments on long-term debt	(8)	(1)
Net increase (decrease) in short-term debt	(10)	21
Cash dividends paid	(58)	(37)
Purchases of treasury stock	(86)	(44)
Other	18	7
Net cash flow (used for) provided by financing activities	(147)	95
Effect of exchange rate changes on cash	(5)	(1)
Net decrease in cash and cash equivalents	(5)	(6)
Cash and cash equivalents at beginning of period	67	57
Cash and cash equivalents at end of period	62
Payments to Acquire Businesses, Net of Cash Acquired	$ 0	$ 12

GENERAL

GENERAL	9 Months Ended
GENERAL	Sep. 30, 2015
General Disclosure [Abstract]
GENERAL	GENERAL Unless the context requires otherwise, the terms “Owens Corning,” “Company,” “we” and “our” in this report refer to Owens Corning, a Delaware corporation, and its subsidiaries. The Consolidated Financial Statements included in this report are unaudited, pursuant to certain rules and regulations of the Securities and Exchange Commission, and include, in the opinion of the Company, normal recurring adjustments necessary for a fair statement of the results for the periods indicated, which, however, are not necessarily indicative of results which may be expected for the full year. The December 31, 2014 , balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States (U.S.). In connection with the Consolidated Financial Statements and Notes included in this report, reference is made to the Consolidated Financial Statements and Notes contained in the Company’s 2014 annual report on Form 10-K. Certain reclassifications have been made to the periods presented for 2014 to conform to the classifications used in the periods presented for 2015. In the three and nine months ended September 30, 2015, the Company recorded additional income tax expense of $4 million and $8 million , respectively, related to prior periods. The effects of these charges were not material to the current or any previously issued financial statements.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
SEGMENT INFORMATION	Sep. 30, 2015
Segment Reporting [Abstract]
SEGEMENT INFORMATION	SEGMENT INFORMATION In the fourth quarter of 2014, Owens Corning announced organizational changes to streamline the Company's management structure and reduce costs. As a result of this action, the Building Materials Group organizational structure was eliminated. The Company's management structure now has three reportable segments: Composites, Insulation and Roofing. As a result, the 2014 segment information in this Note has been presented to reflect the new structure. Accounting policies for the segments are the same as those for the Company. The Company’s reportable segments are defined as follows: Composites – comprised of our Reinforcements and Downstream businesses. Within the Reinforcements business, the Company manufactures, fabricates and sells glass reinforcements in the form of fiber. Within the Downstream business, the Company manufactures and sells glass fiber products in the form of fabrics, mat, veil and other specialized products. Insulation – Within our Insulation business, the Company manufactures and sells fiberglass insulation into residential, commercial, industrial and other markets for both thermal and acoustical applications. It also manufactures and sells glass fiber pipe insulation, energy efficient flexible duct media, bonded and granulated mineral wool insulation and foam insulation used in above- and below-grade construction applications. Roofing – Within our Roofing business, the Company manufactures and sells residential roofing shingles and oxidized asphalt materials used in residential and commercial construction and specialty applications. NET SALES The following table summarizes our net sales by segment and geographic region (in millions). Corporate eliminations (shown below) largely reflect intercompany sales from Composites to Roofing. External customer sales are attributed to geographic region based upon the location from which the product is shipped to the external customer. Three Months Ended Nine Months Ended 2015 2014 2015 2014 Reportable Segments Composites $ 500 $ 489 $ 1,486 $ 1,471 Insulation 502 454 1,332 1,256 Roofing 502 474 1,398 1,408 Total reportable segments 1,504 1,417 4,216 4,135 Corporate eliminations (43 ) (35 ) (134 ) (120 ) NET SALES $ 1,461 $ 1,382 $ 4,082 $ 4,015 External Customer Sales by Geographic Region United States $ 1,029 $ 938 $ 2,825 $ 2,726 Europe 128 142 393 451 Asia Pacific 178 168 492 474 Other 126 134 372 364 NET SALES $ 1,461 $ 1,382 $ 4,082 $ 4,015 EARNINGS BEFORE INTEREST AND TAXES Earnings before interest and taxes (“EBIT”) by segment consist of net sales less related costs and expenses and are presented on a basis that is used internally for evaluating segment performance. Certain items, such as general corporate expenses or income and certain other expense or income items, are excluded from the internal evaluation of segment performance. Accordingly, these items are not reflected in EBIT for our reportable segments and are included in the Corporate, Other and Eliminations category. The following table summarizes EBIT by segment (in millions): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Reportable Segments Composites $ 61 $ 32 $ 188 $ 96 Insulation 58 43 90 62 Roofing 103 58 213 200 Total reportable segments 222 133 491 358 Charges related to cost reduction actions and related items (2 ) (21 ) (4 ) (33 ) Net loss on sale of European Stone business — (1 ) — (20 ) Impairment loss on Alcala, Spain facility held for sale — (3 ) — (3 ) Gain on sale of Hangzhou, China facility — — — 45 Net loss related to Hurricane Sandy — — — (6 ) General corporate expense and other (24 ) (1 ) (77 ) (53 ) EBIT $ 196 $ 107 $ 410 $ 288

INVENTORIES

INVENTORIES	9 Months Ended
INVENTORIES	Sep. 30, 2015
Inventory, Net [Abstract]
INVENTORIES	INVENTORIES Inventories consist of the following (in millions): September 30, 2015 December 31, 2014 Finished goods $ 477 $ 568 Materials and supplies 224 249 Total inventories $ 701 $ 817

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The Company is exposed to, among other risks, the impact of changes in commodity prices, foreign currency exchange rates, and interest rates in the normal course of business. The Company’s risk management program is designed to manage the exposure and volatility arising from these risks, and utilizes derivative financial instruments to offset a portion of these risks. The Company uses derivative financial instruments only to the extent necessary to hedge identified business risks, and does not enter into such transactions for trading purposes. The Company generally does not require collateral or other security with counterparties to these financial instruments and is therefore subject to credit risk in the event of nonperformance; however, the Company monitors credit risk and currently does not anticipate nonperformance by other parties. Contracts with counterparties generally contain right of offset provisions. These provisions effectively reduce the Company’s exposure to credit risk in situations where the Company has gain and loss positions outstanding with a single counterparty. It is the Company’s policy to offset on the Consolidated Balance Sheets the amounts recognized for derivative instruments with any cash collateral arising from derivative instruments executed with the same counterparty under a master netting agreement. As of September 30, 2015 , and December 31, 2014 , the Company did not have any amounts on deposit with any of its counterparties, nor did any of its counterparties have any amounts on deposit with the Company. The following table presents the fair value of derivatives and hedging instruments and the respective location on the Consolidated Balance Sheets (in millions): Fair Value at Location September 30, 2015 December 31, 2014 Derivative assets designated as hedging instruments: Net investment hedges: Cross currency swaps Other current assets $ 5 $ — Cross currency swaps Other non current assets $ 3 $ — Amount of gain recognized in OCI (effective portion) OCI $ 9 $ — Fair value hedges: Interest rate swaps Other current assets $ 1 $ — Interest rate swaps Other non current assets $ 5 $ — Derivative liabilities designated as hedging instruments: Cash flow hedges: Natural gas and electricity, and foreign exchange contracts Accounts payable and accrued liabilities $ 4 $ 9 Amount of loss recognized in OCI (effective portion) OCI $ 6 $ 8 Fair value hedges: Interest rate swaps Other liabilities $ — $ (3 ) Derivative assets not designated as hedging instruments: Foreign exchange contracts Other current assets $ 1 $ 1 Derivative liabilities not designated as hedging instruments: Foreign exchange contracts Accounts payable and accrued liabilities $ 1 $ 2 The following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings (in millions): Three Months Ended Nine Months Ended Location 2015 2014 2015 2014 Derivative activity designated as hedging instruments: Natural gas and electricity: Amount of loss reclassified from OCI into earnings (effective portion) Cost of sales $ 2 $ 1 $ 8 $ — Interest rate swaps: Amount of (gain) loss recognized in earnings Interest expense, net $ — $ (1 ) $ — $ — Derivative activity not designated as hedging instruments: Natural gas and electricity: Amount of (gain) recognized in earnings Other expenses (income), net $ — $ (5 ) $ (1 ) $ (5 ) Foreign currency exchange contract: Amount of (gain) loss recognized in earnings (a) Other expenses (income), net $ (3 ) $ — $ (3 ) $ 1 (a) Losses related to foreign currency derivatives were substantially offset by net revaluation impacts on foreign denominated balance sheet exposures, which were also recorded in Other expenses (income), net. Cash Flow Hedges The Company uses forward and swap contracts, which qualify as cash flow hedges, to manage forecasted exposure to natural gas and electricity prices. The effective portion of the change in the fair value of cash flow hedges is deferred in accumulated OCI and is subsequently recognized in Cost of Sales on the Consolidated Statements of Earnings for commodity hedges, when the hedged item impacts earnings. Changes in the fair value of derivative assets and liabilities designated as hedging instruments are shown in Other within operating activities on the Consolidated Statements of Cash Flows. Any portion of the change in fair value of derivatives designated as hedging instruments that is determined to be ineffective is recorded in Other expenses (income), net on the Consolidated Statements of Earnings. The Company currently has natural gas derivatives designated as hedging instruments that mature within 15 months. The Company’s policy for natural gas exposures is to hedge up to 75% of its total forecasted exposures for the next two months, up to 60% of its total forecasted exposures for the following four months, and lesser amounts for the remaining periods. The Company's policy for electricity exposures is to hedge up to 75% of its total forecasted exposures for the current calendar year and up to 65% of its total forecasted exposures for the first calendar year forward. Based on market conditions, approved variation from the standard policy may occur. The Company performs an analysis for effectiveness of its derivatives designated as hedging instruments at the end of each quarter based on the terms of the contract and the underlying item being hedged. As of September 30, 2015 , $6 million of losses included in accumulated OCI on the Consolidated Balance Sheets relate to contracts that are expected to impact earnings during the next 12 months. Transactions and events that are expected to occur over the next 12 months that will necessitate recognizing these deferred amounts include the recognition of the hedged item through earnings. Fair Value Hedges The Company manages its interest rate exposure by balancing the mixture of its fixed and variable rate instruments through interest rate swaps. The swaps are carried at fair value and recorded as other assets or liabilities, with the offset to long-term debt on the Consolidated Balance Sheets. Changes in the fair value of these swaps and that of the related debt are recorded in Interest expense, net on the Consolidated Statements of Earnings. Net Investment Hedges During the first quarter of 2015, the Company entered into cross currency forward contracts to hedge a portion of the net investment in foreign subsidiaries against fluctuations in foreign exchange rates. For derivative instruments that are designated and qualify as hedges of net investments in foreign operations, settlements and changes in fair values of the derivative instruments are recognized in Currency translation adjustment, a component of Accumulated OCI, to offset the changes in the values of the net investments being hedged. Any portion of net investment hedges that is determined to be ineffective is recorded in Other expenses (income), net on the Consolidated Statements of Earnings. Other Derivatives The Company uses forward currency exchange contracts to manage existing exposures to foreign exchange risk related to assets and liabilities recorded on the Consolidated Balance Sheets. Gains and losses resulting from the changes in fair value of these instruments are recorded in Other expenses (income), net on the Consolidated Statements of Earnings.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	9 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Intangible assets and goodwill consist of the following (in millions): September 30, 2015 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 20 $ 172 $ (80 ) $ 92 Technology 21 193 (90 ) 103 Franchise and other agreements 13 43 (20 ) 23 Indefinite-lived intangible assets: Trademarks 786 — 786 Total intangible assets $ 1,194 $ (190 ) $ 1,004 Goodwill $ 1,167 December 31, 2014 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 19 $ 172 $ (72 ) $ 100 Technology 20 193 (83 ) 110 Franchise and other agreements 12 39 (18 ) 21 Indefinite-lived intangible assets: Trademarks 786 — 786 Total intangible assets $ 1,190 $ (173 ) $ 1,017 Goodwill $ 1,168 The changes in the gross carrying amount of intangible assets by asset group are as follows (in millions): Customer relationships Technology Franchise and other agreements Trademarks Total Balance at December 31, 2014 $ 172 $ 193 $ 39 $ 786 $ 1,190 Additional Franchises and Agreements — — 4 — 4 Balance at September 30, 2015 $ 172 $ 193 $ 43 $ 786 $ 1,194 Other Intangible Assets The Company expects the ongoing amortization expense for amortizable intangible assets to be approximately $22 million in each of the next five fiscal years. The Company’s future cash flows are not materially impacted by its ability to extend or renew agreements related to our amortizable intangible assets. Goodwill The Company tests goodwill and indefinite-lived intangible assets for impairment during the fourth quarter of each year, or more frequently should circumstances change or events occur that would more likely than not reduce the fair value of a reporting unit below its carrying amount. No testing was deemed necessary in the first nine months of 2015.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
PROPERTY, PLANT AND EQUIPMENT	Sep. 30, 2015
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPTMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following (in millions): September 30, December 31, 2014 Land $ 193 $ 196 Buildings and leasehold improvements 778 789 Machinery and equipment 3,435 3,405 Construction in progress 296 233 4,702 4,623 Accumulated depreciation (1,817 ) (1,724 ) Property, plant and equipment, net $ 2,885 $ 2,899 Machinery and equipment includes certain precious metals used in our production tooling, which comprise approximately 16% and 15% of total machinery and equipment as of September 30, 2015 , and December 31, 2014 , respectively. Precious metals used in our production tooling are depleted as they are consumed during the production process, which typically represents an annual expense of less than 3% of the outstanding carrying value.

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	9 Months Ended
ASSETS HELD FOR SALE	Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
ASSETS HELD FOR SALE	ASSETS HELD FOR SALE Assets held for sale as of September 30, 2015 consists of Property, plant and equipment related to two closed production facilities in Alcala, Spain and Vado, Italy, and one assembly and warehousing facility held for sale in the United States.

WARRANTIES

WARRANTIES	9 Months Ended
WARRANTIES	Sep. 30, 2015
Product Warranties Disclosures [Abstract]
WARRANTIES	WARRANTIES The Company records a liability for warranty obligations at the date the related products are sold. Adjustments are made as new information becomes available. A reconciliation of the warranty liability is as follows (in millions): Nine Months Ended September 30, 2015 Beginning balance $ 40 Amounts accrued for current year 13 Settlements of warranty claims (11 ) Ending balance $ 42

COST REDUCTION ACTIONS

COST REDUCTION ACTIONS	9 Months Ended
COST REDUCTION ACTIONS	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
COST REDUCTION ACTIONS	COST REDUCTION ACTIONS 2014 Cost Reduction Actions During 2014, the Company took actions to reduce costs throughout its global Composites network, mainly through the decision to close a facility in Japan and optimize a facility in Canada, in addition to other cost reduction actions. The Company also took actions in 2014 to streamline its management structure and reduce costs, resulting in the elimination of the Building Materials Group organizational structure. For the year-to-date 2015, the Company recorded $5 million of net gains in charges related to cost reduction actions, comprised of a $3 million gain from the revision of estimated total severance costs of these actions, $1 million in charges for a contract termination, and $3 million of net gains related to pension curtailment and settlement. For the year-to-date 2015, the Company also recorded $9 million of net charges in other items related to cost reduction actions, primarily comprised of facility closure costs in Japan. The following table summarizes the status of the unpaid liabilities from the Company’s charges related to cost reduction actions (in millions): Balance at December 31, 2014 Costs Incurred Payments Foreign Currency Translation Non-cash Items Balance at September 30, 2015 Cumulative Charges Incurred Severance $ 31 $ (3 ) $ 17 $ (1 ) $ — $ 10 $ 33 Contract Termination 3 1 — — — 4 4 Pension Curtailment and Settlement — (3 ) — — 3 — (3 ) Total $ 34 $ (5 ) $ 17 $ (1 ) $ 3 $ 14 $ 34 The Company expects the unpaid balance of these severance and contract termination charges to be paid over the next year.

DEBT

DEBT	9 Months Ended
DEBT	Sep. 30, 2015
Debt Disclosure [Abstract]
DEBT	ails of the Company’s outstanding long-term debt are as follows (in millions): September 30, 2015 December 31, 2014 6.50% senior notes, net of discount, due 2016 $ 158 $ 158 9.00% senior notes, net of discount, due 2019 143 143 4.20% senior notes, net of discount, due 2022 600 600 4.20% senior notes, net of discount, due 2024 393 392 7.00% senior notes, net of discount, due 2036 540 540 Accounts receivable securitization facility, maturing in 2018 102 106 Senior revolving credit facility, maturing in 2018 — — Various capital leases, due through and beyond 2050 37 47 Fair value adjustment to debt 9 8 Total long-term debt 1,982 1,994 Less – current portion 3 3 Long-term debt, net of current portion $ 1,979 $ 1,991 Senior Notes The Company issued $400 million of senior notes, due in 2024, on November 12, 2014 at 4.20% . The Company paid $4 million in loan costs in connection with the 2024 notes. These costs were deferred and are being amortized over the term of the 2024 notes. Interest on the notes is payable semiannually in arrears on June 1 and December 1 each year, beginning on June 1, 2015. The proceeds from these notes were used to repay $242 million of our 2016 senior notes, $105 million of our 2019 senior notes and to pay down our Senior Revolving Credit Facility. The Company issued $600 million of senior notes, due in 2022, on October 17, 2012. The proceeds of these notes were used to refinance $250 million of our 2016 senior notes, $100 million of our 2019 senior notes and pay down our Senior Revolving Credit Facility. Interest on the notes is payable semiannually in arrears on June 15 and December 15 each year, beginning on June 15, 2013. The Company issued $350 million of senior notes, due in 2019, on June 3, 2009. On October 31, 2006, the Company issued $650 million of senior notes, due in 2016, and $540 million of senior notes, due in 2036. The proceeds of these notes were used to pay certain unsecured and administrative claims, finance general working capital needs and for general corporate purposes. Collectively, the notes above are referred to as the “Senior Notes.” The Senior Notes are general unsecured obligations of the Company and rank pari passu with all existing and future senior unsecured indebtedness of the Company. The Senior Notes are fully and unconditionally guaranteed by each of the Company’s current and future domestic subsidiaries that are a borrower or guarantor under the Company’s Credit Agreement (as defined below). The guarantees are unsecured and rank equally in right of payment with all other existing and future senior unsecured indebtedness of the guarantors. The guarantees are effectively subordinated to existing and future secured debt of the guarantors to the extent of the assets securing that indebtedness. The Company has the option to redeem all or part of the Senior Notes at any time at a “make whole” redemption price. The Company is subject to certain covenants in connection with the issuance of the Senior Notes that it believes are usual and customary. The Company was in compliance with these covenants as of September 30, 2015 . In the fourth quarter of 2011, the Company terminated the interest rate swaps designated to hedge a portion of the 6.50% senior notes due 2016. The swaps were carried at fair value and recorded as other assets or liabilities, with a fair value adjustment to long-term debt on the Consolidated Balance Sheets. The fair value adjustment to debt will be amortized through 2016 as a reduction to interest expense in conjunction with the maturity date of the notes. On June 28, 2013, the Company entered into interest rate swap agreements effective July 1, 2013 to manage its interest rate exposure by swapping $100 million of fixed rate to variable rate exposure designated against our 4.20% senior notes due in 2022. The swaps are carried at fair value and recorded as other assets or liabilities, with a fair value adjustment to long-term debt on the Consolidated Balance Sheets. Senior Revolving Credit Facility In November 2013, the Company amended the credit agreement (the “Credit Agreement”) for the $800 million multi-currency senior revolving credit facility (the “Senior Revolving Credit Facility”) to extend the maturity to November 2018 and reduce the letters of credit sublimit to $100 million . The Senior Revolving Credit Facility includes both borrowings and letters of credit. Borrowings under the Senior Revolving Credit Facility may be used for general corporate purposes and working capital. The Company has the discretion to borrow under multiple options, which provide for varying terms and interest rates including the United States prime rate or LIBOR plus a spread. The Senior Revolving Credit Facility contains various covenants, including a maximum allowed leverage ratio and a minimum required interest expense coverage ratio that the Company believes are usual and customary for a senior unsecured credit agreement. The Company was in compliance with these covenants as of September 30, 2015 . As of September 30, 2015 , the Company had no borrowings on its Senior Revolving Credit Facility, $9 million of outstanding letters of credit, and $791 million available on this facility. Receivables Securitization Facility Included in long-term debt on the Consolidated Balance Sheets are amounts outstanding under a Receivables Purchase Agreement (the “RPA”) that are accounted for as secured borrowings in accordance with Accounting Standards Codification ("ASC") 860, Accounting for Transfers and Servicing. Owens Corning Sales, LLC and Owens Corning Receivables LLC, each a subsidiary of the Company, have a $250 million RPA with certain financial institutions. The securitization facility was amended in November of 2013 to extend its maturity to July 2016 and to reduce the size of the facility to $200 million during the months of November, December, and January. The securitization facility was amended in January of 2015 to extend its maturity to January 2018 and remove the seasonal reduction of the facility restoring the full $250 million of facility capacity during the months of November, December, and January. As of September 30, 2015 , the Company utilized its receivables securitization facility for $102 million in borrowings and $2 million of outstanding letters of credit, and had $146 million available on this facility. The Company has the ability to borrow at the lenders' cost of funds, which approximates A-1/P-1 commercial paper rates, plus a fixed spread. The RPA contains various covenants, including a maximum allowed leverage ratio and a minimum required interest expense coverage ratio that the Company believes are usual and customary for a securitization facility. The Company was in compliance with these covenants as of September 30, 2015 . Owens Corning Receivables LLC’s sole business consists of the purchase or acceptance through capital contributions of trade receivables and related rights from Owens Corning Sales, LLC and the subsequent retransfer of or granting of a security interest in such trade receivables and related rights to certain purchasers party to the RPA. Owens Corning Receivables LLC is a separate legal entity with its own separate creditors who will be entitled, upon its liquidation, to be satisfied out of Owens Corning Receivables LLC’s assets prior to any assets or value in Owens Corning Receivables LLC becoming available to Owens Corning Receivables LLC’s equity holders. The assets of Owens Corning Receivables LLC are not available to pay creditors of the Company or any other affiliates of the Company or Owens Corning Sales, LLC. Capital Leases In the second quarter of 2015 the Company purchased its World Headquarters facility which had previously been classified as a capital lease. As a result, the Company reduced its capital lease obligation by $10 million and recorded a $5 million gain on extinguishment of debt in the second quarter of 2015 . Short-Term Debt At September 30, 2015 and December 31, 2014 , short-term borrowings were $18 million and $31 million , respectively. The short-term borrowings for both periods consisted of various operating lines of credit and working capital facilities. Certain of these borrowings are collateralized by receivables, inventories or property. The borrowing facilities are typically for one-year renewable terms. The weighted average interest rate on all short-term borrowings was approximately 7% for September 30, 2015 and 7.2% for December 31, 2014 .

PENSION PLANS AND OTHER POSTRET

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	9 Months Ended
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	Sep. 30, 2015
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	Pension Plans The Company sponsors defined benefit pension plans. Under the plans, pension benefits are based on an employee’s years of service and, for certain categories of employees, qualifying compensation. Company contributions to these pension plans are determined by an independent actuary to meet or exceed minimum funding requirements. In our Non-U.S. plans, the unrecognized cost of any retroactive amendments and actuarial gains and losses are amortized over the average future service period of plan participants expected to receive benefits. In our U.S. plans, the unrecognized cost of any retroactive amendments and actuarial gains and losses are amortized over the average remaining life expectancy of the inactive participants as substantially all of the plan participants are inactive. The following tables provide information regarding pension expense recognized (in millions): Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 2 $ 1 $ 3 $ 2 $ 2 $ 4 Interest cost 11 3 14 12 6 18 Expected return on plan assets (15 ) (5 ) (20 ) (14 ) (7 ) (21 ) Amortization of actuarial loss 4 1 5 2 1 3 Settlement gain — (1 ) (1 ) — — — Curtailment gain — (1 ) (1 ) — — — Net periodic pension cost $ 2 $ (2 ) $ — $ 2 $ 2 $ 4 Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 6 $ 3 $ 9 $ 6 $ 4 $ 10 Interest cost 33 13 46 36 17 53 Expected return on plan assets (44 ) (18 ) (62 ) (43 ) (20 ) (63 ) Amortization of actuarial loss 11 3 14 7 2 9 Settlement gain — (1 ) (1 ) — — — Curtailment gain — (2 ) (2 ) — — — Net periodic pension cost $ 6 $ (2 ) $ 4 $ 6 $ 3 $ 9 The Company expects to contribute approximately $48 million in cash to the United States Pension Plans and another $14 million to non-United States plans during 2015 . The Company made cash contributions of approximately $59 million to the plans during the nine months ended September 30, 2015 . Postemployment and Postretirement Benefits Other than Pension Plans The Company maintains healthcare and life insurance benefit plans for certain retired employees and their dependents. The health care plans in the United States are non-funded and pay either (1) stated percentages of covered medically necessary expenses, after subtracting payments by Medicare or other providers and after stated deductibles have been met, or (2) fixed amounts of medical expense reimbursement. The following table provides the components of net periodic benefit cost for aggregated United States and non-United States Plans for the periods indicated (in millions): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Components of Net Periodic Benefit Cost Service cost $ 1 $ 1 $ 2 $ 2 Interest cost 3 3 7 8 Amortization of prior service cost (1 ) (1 ) (3 ) (3 ) Amortization of actuarial gain — (1 ) — (2 ) Net periodic benefit cost $ 3 $ 2 $ 6 $ 5

CONTINGENT LIABILITIES AND OTHE

CONTINGENT LIABILITIES AND OTHER MATTERS	9 Months Ended
CONTINGENT LIABILITIES AND OTHER MATTERS	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
CONTINGENT LIABILITIES AND OTHER MATTERS	CONTINGENT LIABILITIES AND OTHER MATTERS The Company is involved in various legal proceedings relating to employment, product liability and other matters (collectively, “Proceedings”). The Company regularly reviews the status of such Proceedings with legal counsel. Liabilities for such Proceedings are recorded when it is probable that the liability has been incurred and when the amount of the liability can be reasonably estimated. Liabilities are adjusted when additional information becomes available. Management believes that the amount of any reasonably possible losses in excess of any amounts accrued, if any, with respect to such Proceedings or any other known claims, including the matters described below under the caption Environmental Matters (the “Environmental Matters”) will not be material to the Company’s financial statements. Management believes that the ultimate disposition of the Proceedings and the Environmental Matters will not have a material adverse effect on the Company’s operations or financial condition taken as a whole. Litigation The Company is involved in litigation from time to time in the regular course of its business. The Company believes that adequate provisions for resolution of all contingencies, claims and pending litigation have been made for probable losses that are reasonably estimable. The Company does not believe that the ultimate outcome of these actions will have a material adverse effect on its financial condition, results of operations or cash flows. Environmental Matters The Company has been deemed by the United States Environmental Protection Agency to be a Potentially Responsible Party (“PRP”) with respect to certain sites under the Comprehensive Environmental Response Compensation and Liability Act. The Company has also been deemed a PRP under similar state or local laws and in other instances other PRPs have brought suits against it as a PRP for contribution under such federal, state, or local laws. At September 30, 2015 , the Company had environmental remediation liabilities as a PRP at 19 sites where it has a continuing legal obligation to either complete remedial actions or contribute to the completion of remedial actions as part of a group of PRPs. Environmental liability estimates may be affected by changing determinations of what constitutes an environmental exposure or an acceptable level of cleanup. To the extent that the required remediation procedures or timing of those procedures change, additional contamination is identified, or the financial condition of other PRPs is adversely affected, the estimate of our environmental liabilities may change. For these sites the Company estimates a reserve to reflect environmental liabilities that have been asserted or are probable of assertion, in which liabilities are probable and reasonably estimable. At September 30, 2015 , our reserve for such liabilities was $2 million . Changes in required remediation procedures or timing of those procedures at existing legacy sites, or discovery of contamination at additional sites, could result in increases to our environmental obligations.

STOCK COMPENSATION

STOCK COMPENSATION	9 Months Ended
STOCK COMPENSATION	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK COMPENSATION	STOCK COMPENSATION Stock Plans On April 18, 2013, the Company’s stockholders approved the Owens Corning 2013 Stock Plan (the “2013 Stock Plan”) which replaced the 2010 Stock Plan, whose available shares were rolled into and made available under the 2013 Stock Plan. The 2013 Stock Plan authorizes grants of stock options, stock appreciation rights, restricted stock awards, restricted stock units, bonus stock awards and performance stock awards. At September 30, 2015, the number of shares remaining available under the 2013 Stock Plan for all stock awards was 2.0 million . Stock Options The Company did not grant any stock options during the nine months ended September 30, 2015 . The Company calculates a weighted-average grant-date fair value using a Black-Scholes valuation model for options granted. Compensation expense for options is measured based on the fair market value of the option on the date of grant, and is recognized on a straight-line basis over a four year vesting period. In general, the exercise price of each option awarded was equal to the market price of the Company’s common stock on the date of grant and an option’s maximum term is 10 years. During the three and nine months ended September 30, 2015 the Company recognized expense of $1 million and $3 million , respectively, related to the Company's stock options. During the three and nine months ended September 30, 2014 , the Company recognized expense of $1 million , and $4 million related to the Company’s stock options, respectively. As of September 30, 2015 , there was $5 million of total unrecognized compensation cost related to stock options. That cost is expected to be recognized over a weighted-average period of 1.99 years. The total aggregate intrinsic value of options outstanding as of September 30, 2015 was $23 million . The following table summarizes the Company’s stock option activity: Nine Months Ended Number of Options Weighted- Average Exercise Price Beginning Balance 2,754,895 $ 31.04 Exercised (579,800 ) 30.31 Forfeited (105,100 ) 38.09 Expired (5,100 ) 41.89 Ending Balance 2,064,895 $ 30.86 The following table summarizes information about the Company’s options outstanding and exercisable: Options Outstanding Options Exercisable Options Outstanding Weighted-Average Number Exercisable at September 30, 2015 Weighted-Average Range of Exercise Prices Remaining Contractual Life Exercise Price Remaining Contractual Life Exercise Price $13.89-$42.16 2,064,895 4.50 $ 30.86 1,664,395 3.72 $ 29.04 Restricted Stock Awards and Restricted Stock Units The Company has granted restricted stock awards and restricted stock units (collectively referred to as “restricted stock”) as a part of its long-term incentive plan. Compensation expense for restricted stock is measured based on the market price of the stock at date of grant and is recognized on a straight-line basis over the four -year vesting period. Stock restrictions are subject to alternate vesting plans for death, disability, approved early retirement and involuntary termination, over various periods ending in 2019. During the three and nine months ended September 30, 2015 , the Company recognized expense of $5 million and $13 million , respectively, related to the Company's restricted stock. During the three and nine months ended September 30, 2014 , the Company recognized expense of $4 million and $13 million , respectively, related to the Company’s restricted stock. As of September 30, 2015 , there was $30 million of total unrecognized compensation cost related to restricted stock. That cost is expected to be recognized over a weighted-average period of 2.73 years. The total fair value of shares vested during the nine months ended September 30, 2015 and 2014 was $17 million and $14 million , respectively. The following table summarizes the Company’s restricted stock activity: Nine Months Ended Number of Shares/Units Weighted-Average Grant-Date Fair Value Beginning Balance 1,727,741 $ 33.58 Granted 609,087 39.61 Vested (485,778 ) 34.32 Forfeited (129,999 ) 38.13 Ending Balance 1,721,051 $ 35.29 Performance Stock Awards and Performance Stock Units The Company has granted performance stock awards and performance stock units (collectively referred to as “PSUs”) as a part of its long-term incentive plan. All outstanding performance grants will fully settle in stock. The amount of stock ultimately distributed from the 2015 grants is contingent on meeting internal company-based metrics or an external-based stock performance metric. The amount of stock ultimately distributed from 2014 and prior grants is contingent on meeting an external based stock performance metric. In the nine months ended September 30, 2015 , the Company granted both internal company-based and external-based metric PSUs. Internal based metrics The internal company-based metrics vest after a three-year period and are based on return on invested capital over a three-year period. The amount of stock distributed will vary from 0% to 300% of PSUs awarded depending on performance versus the company-based metrics. The initial fair value for all internal company-based metric PSUs assumes that the performance goals will be achieved and is based on the grant date stock price. This assumption is monitored quarterly and if it becomes probable that such goals will not be achieved or will be exceeded, compensation expense recognized will be adjusted and previous surplus compensation expense recognized will be reversed or additional expense will be recognized. The expected term represents the period from the grant date to the end of the three-year performance period. Pro-rata vesting may be utilized in the case of death or disability, and awards if earned will be paid at the end of the three-year period. External based metrics The external-based metric vests after a three-year period. Outstanding grants issued in 2015 will be based on the Company's total stockholder return relative to the performance of the S&P Building & Construction Industry Index. Outstanding grants issued prior to 2015 are based on the Company's total stockholder return relative to the performance of the companies in the S&P 500 Index. The amount of stock distributed will vary from 0% to 200% of PSUs awarded depending on the relative stockholder return performance. The Company estimated the fair value of the external-based metric performance stock grants using a Monte Carlo simulation that uses various assumptions that include expected volatility of 29.2% , and a risk free interest rate of 1.1% both of which were based on an expected term of 2.90 years. Expected volatility was based on a benchmark study of our peers. The risk-free interest rate was based on zero coupon United States Treasury bills at the time of grant. The expected term represents the period from the grant date to the end of the three-year performance period. Compensation expense for external based metric PSUs is measured based on the grant date fair value and is recognized on a straight-line basis over the vesting period. Pro-rata vesting may be utilized in the case of death or disability, and awards if earned will be paid at the end of the three-year period. During the three and nine months ended September 30, 2015 , the Company recognized expense of $2 million and $5 million , respectively, related to the Company's PSUs. During the three and nine months ended September 30, 2014 , the Company recognized expense of $1 million and $4 million related to the Company’s PSUs, respectively. As of September 30, 2015 , there was $11 million of total unrecognized compensation cost related to PSUs. That cost is expected to be recognized over a weighted-average period of 1.80 years. The following table summarizes the Company’s PSU activity: Nine Months Ended Number of PSUs Weighted-Average Grant-Date Fair Value Beginning Balance 416,250 $ 49.53 Granted 251,600 43.88 Forfeited (80,650 ) 48.53 Ending Balance 587,200 $ 47.25 Employee Stock Purchase Plan On April 18, 2013, the Company’s stockholders approved the Owens Corning Employee Stock Purchase Plan (“ESPP”). The ESPP is a tax-qualified plan under Section 423 of the Internal Revenue Code. The purchase price of shares purchased under the ESPP is equal to 85% of the lower of the fair market value of shares of Owens Corning common stock at the beginning or ending of the offering period, which is a six-month period ending on May 31 and November 30 of each year. At the approval date, 2 million shares were available for purchase under the ESPP. As of September 30, 2015, 1.7 million shares remain available for purchase. During the three and nine months ended September 30, 2015 the Company recognized expense of less than $1 million and $1 million , respectively, related to the Company's ESPP. During the three and nine months ended September 30, 2014 , the Company recognized expense of less than $1 million , and $1 million , respectively, related to the Company’s ESPP. As of September 30, 2015 , there was less than $1 million of total unrecognized compensation cost related to the ESPP.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
EARNINGS PER SHARE	Sep. 30, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table is a reconciliation of weighted-average shares for calculating basic and diluted earnings per-share (in millions, except per share amounts): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Net earnings attributable to Owens Corning $ 112 $ 52 $ 221 $ 193 Weighted-average number of shares outstanding used for basic earnings per share 117.2 117.4 117.5 117.5 Non-vested restricted and performance shares 0.7 0.4 0.5 0.4 Options to purchase common stock 0.4 0.3 0.4 0.4 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share 118.3 118.1 118.4 118.3 Earnings per common share attributable to Owens Corning common stockholders: Basic $ 0.96 $ 0.44 $ 1.88 $ 1.64 Diluted $ 0.95 $ 0.44 $ 1.87 $ 1.63 In 2012, the Company approved a new share buy-back program under which the Company is authorized to repurchase up to 10 million shares of the Company’s outstanding common stock (the “Repurchase Program”). The Repurchase Program authorizes the Company to repurchase shares through the open market, in privately negotiated or other transactions. The actual number of shares repurchased will depend on timing, market conditions and other factors and will be at the Company’s discretion. The Company repurchased 2.1 million shares of its common stock for $89 million during the nine months ended September 30, 2015 under the Repurchase Program. As of September 30, 2015 , 5.6 million shares remain available for repurchase under the Repurchase Program. For the three months ended September 30, 2015, the number of shares used in the calculation of diluted earnings per share did not include 0.6 million of options to purchase common stock, due to their anti-dilutive effect. For the nine months ended September 30, 2015, the number of shares used in the calculation of diluted earnings per share did not include 0.1 million non-vested Restricted and Performance shares, and 0.6 million of options to purchase common stock, due to their anti-dilutive effect. For the three and nine months ended September 30, 2014 , the number of shares used in the calculation of diluted earnings per share did not include 1.3 million and 1.0 million , respectively, of options to purchase common stock, due to their anti-dilutive effect.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	9 Months Ended
FAIR VALUE MEASUREMENT	Sep. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	FAIR VALUE MEASUREMENT The Company classifies and discloses assets and liabilities carried at fair value in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. Items Measured at Fair Value The carrying value of cash and cash equivalents, accounts receivable and short-term debt approximate fair value because of the short-term maturity of the instruments. Derivatives The Company executes financial derivative contracts for the purpose of mitigating risk exposure that is generated from our normal operations. These derivatives consist of natural gas swaps, interest rate swaps, cross currency swaps, and foreign exchange forward contracts, all of which are over-the-counter and not traded through an exchange. The Company uses widely accepted valuation tools to determine fair value, such as discounting cash flows to calculate a present value for the derivatives. The models use Level 2 inputs, such as forward curves and other commonly quoted observable transactions and prices. Contingent Consideration In connection with our third quarter 2014 acquisition, we recorded contingent consideration pertaining to amounts payable to the former owners related to a put/call option that is to be determined based on a multiple of 2016 EBITDA that contains a cap of $7 million and a floor of $4 million . The valuation of contingent consideration uses assumptions we believe would be made by a market participant and has been based on a significant input not observable in the market. The significant unobservable input used in the fair value measurement of our contingent consideration includes our internal forecast of business performance, which is a Level 3 input. The fair value of the put/call as of September 30, 2015 is $6 million and has been recorded in Other liabilities on the Consolidated Balance Sheet. The change in fair value of $1 million for the nine months ended September 30, 2015 was recognized in Interest expense, net on the Consolidated Statements of Earnings. The following table summarizes the fair values and levels within the fair value hierarchy in which the fair value measurements fall as of September 30, 2015 (in millions): Total Measured at Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Derivative assets $ 15 $ — $ 15 $ — Liabilities: Derivative liabilities $ 5 $ — $ 5 $ — Contingent consideration 6 — — 6 Total liabilities $ 11 $ — $ 5 $ 6 The following table summarizes the fair values and levels within the fair value hierarchy in which the fair value measurements fall as of December 31, 2014 (in millions): Total Measured at Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Derivative assets $ 1 $ — $ 1 $ — Liabilities: Derivative liabilities $ 8 $ — $ 8 $ — Contingent consideration 5 — — 5 Total liabilities $ 13 $ — $ 8 $ 5 Items Disclosed at Fair Value Long-term debt The following table shows the fair value of the Company’s long-term debt as calculated based on quoted market prices for the same or similar issues (Level 2 input), or on the current rates offered to the Company for debt of the same remaining maturities: September 30, 2015 December 31, 2014 6.50% senior notes, net of discount, due 2016 104 % 109 % 9.00% senior notes, net of discount, due 2019 118 % 119 % 4.20% senior notes, net of discount, due 2022 102 % 101 % 4.20% senior notes, net of discount, due 2024 100 % 99 % 7.00% senior notes, net of discount, due 2036 118 % 124 % The Company determined that the book value of the remaining long-term debt instruments approximates market value.

INCOME TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The following table provides the Income tax expense and effective tax rate for the periods indicated: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Income tax expense $ 55 $ 27 $ 112 $ 9 Effective tax rate 33 % 34 % 33 % 4 % The difference between the effective tax rate and the U.S. federal statutory tax rate of 35% for the three and nine months ended September 30, 2015 is primarily attributable to the tax accounting treatment of various locations which are currently in a loss position, reversal of valuation allowances, the benefit of lower foreign tax rates, and other discrete tax adjustments. Realization of deferred tax assets depends on achieving a certain minimum level of future taxable income. Management currently believes that it is at least reasonably possible that the minimum level of taxable income will be met within the next 12 months to reduce the valuation allowance of certain foreign jurisdictions by a range of $0 million to $50 million . For the third quarter of 2014, the difference between the effective tax rate and the statutory rate of 35% is primarily attributable to the tax accounting treatment related to various locations which are currently in a loss position. For the year-to-date 2014 period, the difference between the effective tax rate and the statutory rate of 35% is primarily attributable to the resolution of an uncertain tax position upon receiving final notification from the IRS that it had completed its audit examination for the taxable years 2008 through 2010 and the reversal of a valuation allowance recorded in prior years against certain European net deferred tax assets which cumulatively totaled $78 million . The remaining differences relate to other discrete adjustments and the accounting treatment of various locations which are currently in a loss position.

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME	9 Months Ended
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME	Sep. 30, 2015
Equity [Abstract]
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME	CHANGES IN ACCUMULATED OTHER COMPREHENSIVE DEFICIT The following table summarizes the changes in accumulated other comprehensive income (deficit) (“AOCI”) (in millions): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Currency Translation Adjustment Beginning balance $ (176 ) $ (3 ) $ (133 ) $ 2 Loss on foreign currency translation (40 ) (60 ) (86 ) (65 ) Gain on net investment hedge 4 — 9 — Income tax expense of amount classified into AOCI (2 ) — (4 ) — Net loss on foreign currency translation (38 ) (60 ) (81 ) (65 ) (Gains)/Losses reclassified from AOCI to income — 1 — 1 Other comprehensive income/(loss), net of tax (38 ) (59 ) (81 ) (64 ) Ending balance $ (214 ) $ (62 ) $ (214 ) $ (62 ) Pension and Other Postretirement Adjustment Beginning balance $ (406 ) $ (298 ) $ (412 ) $ (300 ) Amortization of actuarial loss (a) 5 2 14 7 Amortization of prior service gain (a) (1 ) (1 ) (3 ) (3 ) Settlement gain (a) (1 ) — (1 ) — Income tax benefit of amounts reclassified from AOCI to income (1 ) (1 ) (4 ) (3 ) Net amortization and gain/(loss) reclassified from AOCI to net income 2 — 6 1 Translation impact on non-US. Plans 4 4 6 5 Other comprehensive income, net of tax 6 4 12 6 Ending balance $ (400 ) $ (294 ) $ (400 ) $ (294 ) Deferred Gain (Loss) on Hedging Beginning balance $ (2 ) $ — $ (5 ) $ 1 Change in mark to market hedges (4 ) (1 ) (5 ) (2 ) Income tax benefit of amount classified into AOCI 2 — 2 1 Net loss on derivative instruments (2 ) (1 ) (3 ) (1 ) Amounts reclassified from AOCI to income (b) 2 1 8 — Income tax benefit of amounts reclassified from AOCI to income (1 ) — (3 ) — Net gain reclassified from AOCI to net income 1 1 5 — Other comprehensive income/(loss), net of tax (1 ) — 2 (1 ) Ending balance $ (3 ) $ — $ (3 ) $ — Total AOCI ending balance $ (617 ) $ (356 ) $ (617 ) $ (356 ) (a)These AOCI components are included in the computation of total Pension and OPEB expense and are recorded in cost of sales and marketing and administrative expenses. See Note 12 for additional information. (b) Amounts reclassified from gain/(loss) on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and is recognized in cost of sales. See Note 4 for additional information.

ACCOUNTING PRONOUNCEMENTS

ACCOUNTING PRONOUNCEMENTS	9 Months Ended
ACCOUNTING PRONOUNCEMENTS	Sep. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
ACCOUNTING PRONOUNCEMENTS	ACCOUNTING PRONOUNCEMENTS In May 2014, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). ASU 2014-09 outlines a new, single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This new revenue recognition model provides a five-step analysis in determining when and how revenue is recognized. The new model will require revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services. The Company is currently assessing the impact that adopting this new accounting guidance will have on its Consolidated Financial Statements and footnote disclosures. ASU 2014-09 is effective, as amended by ASU 2015-14, for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is permitted. Accordingly, the standard is effective for the Company on January 1, 2018. In April 2015, the FASB issued ASU No. 2015-03, "Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs" ("ASU 2015-03"). ASU 2015-03 requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. Prior to the issuance of the standard, debt issuance costs were required to be presented in the balance sheet as an asset. In August 2015, the FASB issued ASU 2015-15, "Interest-Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements," ("ASU 2015-15"). ASU 2015-15, which is effective immediately, states that entities may continue presenting unamortized debt issuance costs for line-of-credit arrangements as an asset. These updates are not expected to have a material impact on the Company's Consolidated Financial Statements. ASU 2015-03 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Accordingly, ASU 2015-03 is effective for the Company on January 1, 2016. In April 2015, the FASB issued ASU No. 2015-04, "Compensation—Retirement Benefits (Topic 715): Practical Expedient for the Measurement Date of an Employer's Defined Benefit Obligation and Plan Assets" ("ASU 2015-04"). ASU 2015-04 provides a practical expedient for entities to use when a significant event occurs in an interim period that requires remeasurement of defined benefit plan assets and obligations. Entities are permitted to remeasure defined benefit plan assets and obligations using the month-end that is closest to the date of the significant event. The update is not expected to have a material impact on the Company's Consolidated Financial Statements. ASU 2015-04 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, and early adoption is permitted. Accordingly, the standard is effective for the Company on January 1, 2016. In July 2015, the FASB issued ASU No. 2015-07, "Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)" ("ASU 2015-07"). ASU 2015-07 modifies the practical expedient that permits an entity to measure the fair value of certain investments using the net asset value per share of the investment. The amendment removes the requirement to categorize investments within the fair value hierarchy that are measured using this practical expedient. The amendment also limits disclosure to investments for which the practical expedient has been elected instead of all investments eligible for the practical expedient. The Company is currently assessing the impact that adopting this new accounting guidance will have on its Consolidated Financial Statements. ASU 2015-07 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, and early adoption is permitted. Accordingly, the standard is effective for the Company on January 1, 2016. In July 2015, the FASB issued ASU No. 2015-11 "Inventory (Topic 330): Simplifying the Measurement of Inventory" ("ASU 2015-11"). ASU 2015-11 requires that inventory be subsequently measured at the lower or cost or net realizable value. Prior to the issuance of this standard, inventory was measured at the lower of cost or market. The update is not expected to have a material impact on the Company's Consolidated Financial Statements. ASU 2015-11 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early adoption is permitted. Accordingly, the standard is effective for the Company on January 1, 2017. In July 2015, the FASB issued ASU No. 2015-12 "Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): Part I. Fully Benefit-Responsive Investment Contract; Part II. Plan Investment Disclosures; Part III. Measurement Date Practical Expedient" ("ASU 2015-12"). ASU 2015-12 Part II simplifies the disclosure of plan assets by removing the requirement to disaggregate the fair value of assets disclosed by general type. The Company is currently assessing the impact that adopting this new accounting guidance will have on its Consolidated Financial Statements. ASU 2015-12 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, and early adoption is permitted. Accordingly, the standard is effective for the Company on January 1, 2016. In August 2015, the FASB issued ASU No. 2015-13 "Derivatives and Hedging (Topic 815): Application of the Normal Purchases and Normal Sales Scope Exception to Certain Electricity Contracts within Nodal Energy Markets" ("ASU 2015-13"). ASU 2015-13 now allows the application of the normal purchases and normal sales scope exception to energy purchases in nodal market delivery hubs. The update is not expected to have a material impact on the Company's Consolidated Financial Statements. ASU 2015-13 is effective immediately. In September 2015, the FASB issued ASU No. 2015-16 "Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments" ("ASU 2015-16"). ASU 2015-16 requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. Prior to the issuance of the standard, entities were required to retrospectively apply adjustments made to provisional amounts recognized in a business combination. The update is not expected to have a material impact on the Company's Consolidated Financial Statements. ASU 2015-16 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, and early adoption is permitted. Accordingly, the standard is effective for the Company on January 1, 2016.

CONDENSED CONSOLIDATED FINANCIA

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	9 Months Ended
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	Sep. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	The following Condensed Consolidating Financial Statements present the financial information required with respect to those entities which guarantee certain of the Company’s debt. The Condensed Consolidating Financial Statements are presented on the equity method. Under this method, the investments in subsidiaries are recorded at cost and adjusted for the Company’s share of the subsidiaries’ cumulative results of operations, capital contributions, distributions and other equity changes. The principal elimination entries eliminate investment in subsidiaries and intercompany balances and transactions. During the second quarter of 2015, the Company discovered that certain Property, plant and equipment, net of the Parent was incorrectly classified as assets of the Guarantor Subsidiaries rather than the Parent in the 2014 Condensed Consolidating Balance Sheet. The misclassification increased and decreased previously reported Parent and Guarantor Subsidiaries' Property, plant and equipment, net by $112 million , respectively, decreased the Parent's Investment in subsidiaries by $112 million , and decreased the Guarantor Subsidiaries' Additional paid in capital by $112 million . The effect of correcting these classification errors was not material to the 2014 consolidating financial information, and the related amounts presented for 2014 have been revised. Guarantor and Nonguarantor Financial Statements The Senior Notes and the Senior Revolving Credit Facility are guaranteed, fully, unconditionally and jointly and severally, by each of Owens Corning’s current and future 100% owned material domestic subsidiaries that is a borrower or a guarantor under Owens Corning’s Credit Agreement, which permits changes to the named guarantors in certain situations (collectively, the “Guarantor Subsidiaries”). The remaining subsidiaries have not guaranteed the Senior Notes and the Senior Revolving Credit Facility (collectively, the “Nonguarantor Subsidiaries”). OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,044 $ 514 $ (97 ) $ 1,461 COST OF SALES (1 ) 826 393 (97 ) 1,121 Gross margin 1 218 121 — 340 OPERATING EXPENSES Marketing and administrative expenses 30 71 29 — 130 Science and technology expenses — 15 3 — 18 Charges related to cost reduction actions — — (5 ) — (5 ) Other expenses (income), net (24 ) — 25 — 1 Total operating expenses 6 86 52 — 144 EARNINGS BEFORE INTEREST AND TAXES (5 ) 132 69 — 196 Interest expense, net 25 — 3 — 28 Gain on extinguishment of debt — — — — — EARNINGS BEFORE TAXES (30 ) 132 66 — 168 Less: Income tax expense (10 ) 51 14 — 55 Equity in net earnings of subsidiaries 132 51 — (183 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 112 132 52 (183 ) 113 Less: Net earnings attributable to noncontrolling interests — — 1 — 1 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 112 $ 132 $ 51 $ (183 ) $ 112 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2014 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 964 $ 511 $ (93 ) $ 1,382 COST OF SALES (5 ) 795 434 (93 ) 1,131 Gross margin 5 169 77 — 251 OPERATING EXPENSES Marketing and administrative expenses 24 55 31 — 110 Science and technology expenses — 14 4 — 18 Charges related to cost reduction actions — — 19 — 19 Other expenses (income), net 2 (6 ) 1 — (3 ) Total operating expenses 26 63 55 — 144 EARNINGS BEFORE INTEREST AND TAXES (21 ) 106 22 — 107 Interest expense, net 26 — 2 — 28 EARNINGS BEFORE TAXES (47 ) 106 20 — 79 Less: Income tax expense (17 ) 37 7 — 27 Equity in net earnings of subsidiaries 82 13 — (95 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 52 82 13 (95 ) 52 Less: Net earnings attributable to noncontrolling interests — — — — — NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 52 $ 82 $ 13 $ (95 ) $ 52 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 2,883 $ 1,485 $ (286 ) $ 4,082 COST OF SALES — 2,347 1,164 (286 ) 3,225 Gross margin — 536 321 — 857 OPERATING EXPENSES Marketing and administrative expenses 92 209 88 — 389 Science and technology expenses — 44 9 — 53 Charges related to cost reduction actions — — (5 ) — (5 ) Other expenses (income), net (41 ) 12 39 — 10 Total operating expenses 51 265 131 — 447 EARNINGS BEFORE INTEREST AND TAXES (51 ) 271 190 — 410 Interest expense, net 73 2 5 — 80 Gain on extinguishment of debt (5 ) — — — (5 ) EARNINGS BEFORE TAXES (119 ) 269 185 — 335 Less: Income tax expense (39 ) 97 54 — 112 Equity in net earnings of subsidiaries 301 129 — (430 ) — Equity in net earnings of affiliates — — 1 — 1 NET EARNINGS 221 301 132 (430 ) 224 Less: Net earnings attributable to noncontrolling interests — — 3 — 3 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 221 $ 301 $ 129 $ (430 ) $ 221 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 2,800 $ 1,496 $ (281 ) $ 4,015 COST OF SALES (9 ) 2,314 1,258 (281 ) 3,282 Gross margin 9 486 238 — 733 OPERATING EXPENSES Marketing and administrative expenses 84 191 97 — 372 Science and technology expenses — 44 13 — 57 Charges related to cost reduction actions — 1 30 — 31 Other expenses (income), net (14 ) 8 (9 ) — (15 ) Total operating expenses 70 244 131 — 445 EARNINGS BEFORE INTEREST AND TAXES (61 ) 242 107 — 288 Interest expense, net 80 2 4 — 86 EARNINGS BEFORE TAXES (141 ) 240 103 — 202 Less: Income tax expense (53 ) 46 16 — 9 Equity in net earnings of subsidiaries 281 87 — (368 ) — Equity in net earnings of affiliates — — 1 — 1 NET EARNINGS 193 281 88 (368 ) 194 Less: Net earnings attributable to noncontrolling interests — — 1 — 1 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 193 $ 281 $ 87 $ (368 ) $ 193 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 112 $ 132 $ 52 $ (183 ) $ 113 Currency translation adjustment (net of tax) (38 ) — — — (38 ) Pension and other postretirement adjustment (net of tax) 6 — — — 6 Deferred gain (loss) on hedging (net of tax) (1 ) — — — (1 ) COMPREHENSIVE EARNINGS 79 132 52 (183 ) 80 Less: Net earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 79 $ 132 $ 51 $ (183 ) $ 79 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2014 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 52 $ 82 $ 13 $ (95 ) $ 52 Currency translation adjustment (net of tax) (59 ) — — — (59 ) Pension and other postretirement adjustment (net of tax) 4 — — — 4 Deferred gain (loss) on hedging (net of tax) — — — — — COMPREHENSIVE EARNINGS (3 ) 82 13 (95 ) (3 ) Less: Comprehensive earnings attributable to noncontrolling interests — — — — — COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ (3 ) $ 82 $ 13 $ (95 ) $ (3 ) OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 221 $ 301 $ 132 $ (430 ) $ 224 Currency translation adjustment (net of tax) (81 ) — — — (81 ) Pension and other postretirement adjustment (net of tax) 12 — — — 12 Deferred gain (loss) on hedging (net of tax) 2 — — — 2 COMPREHENSIVE EARNINGS 154 301 132 (430 ) 157 Less: Net earnings attributable to noncontrolling interests — — 3 — 3 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 154 $ 301 $ 129 $ (430 ) $ 154 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 193 $ 281 $ 88 $ (368 ) $ 194 Currency translation adjustment (net of tax) (64 ) — — — (64 ) Pension and other postretirement adjustment (net of tax) 6 — — — 6 Deferred gain (loss) on hedging (net of tax) (1 ) — — — (1 ) COMPREHENSIVE EARNINGS 134 281 88 (368 ) 135 Less: Comprehensive earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 134 $ 281 $ 87 $ (368 ) $ 134 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2015 (in millions) ASSETS Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 2 $ 60 $ — $ 62 Receivables, less allowances — — 861 — 861 Due from affiliates — 3,170 — (3,170 ) — Inventories — 444 257 — 701 Assets held for sale — — 14 — 14 Other current assets 11 136 90 — 237 Total current assets 11 3,752 1,282 (3,170 ) 1,875 Investment in subsidiaries 7,614 2,495 559 (10,668 ) — Due from affiliates — — 815 (815 ) — Property, plant and equipment, net 462 1,344 1,079 — 2,885 Goodwill — 1,127 40 — 1,167 Intangible assets — 975 215 (186 ) 1,004 Deferred income taxes 29 297 26 — 352 Other non-current assets 33 63 132 — 228 TOTAL ASSETS $ 8,149 $ 10,053 $ 4,148 $ (14,839 ) $ 7,511 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 88 $ 631 $ 244 $ — $ 963 Due to affiliates 2,122 — 1,048 (3,170 ) — Short-term debt — 12 6 — 18 Long-term debt – current portion — 2 1 — 3 Total current liabilities 2,210 645 1,299 (3,170 ) 984 Long-term debt, net of current portion 1,843 14 122 — 1,979 Due to affiliates — 815 — (815 ) — Pension plan liability 257 — 118 — 375 Other employee benefits liability — 231 12 — 243 Deferred income taxes — — 18 — 18 Other liabilities 104 175 45 (186 ) 138 OWENS CORNING STOCKHOLDERS’ EQUITY Preferred stock — — — — — Common stock 1 — — — 1 Additional paid in capital 3,959 6,293 1,703 (7,996 ) 3,959 Accumulated earnings 966 1,880 792 (2,672 ) 966 Accumulated other comprehensive deficit (617 ) — — — (617 ) Cost of common stock in treasury (574 ) — — — (574 ) Total Owens Corning stockholders’ equity 3,735 8,173 2,495 (10,668 ) 3,735 Noncontrolling interests — — 39 — 39 Total equity 3,735 8,173 2,534 (10,668 ) 3,774 TOTAL LIABILITIES AND EQUITY $ 8,149 $ 10,053 $ 4,148 $ (14,839 ) $ 7,511 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2014 (in millions) ASSETS Parent Guarantor Non- Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 1 $ 66 $ — $ 67 Receivables, less allowances — — 674 — 674 Due from affiliates — 2,858 — (2,858 ) — Inventories — 527 290 — 817 Assets held for sale — — 16 — 16 Other current assets 7 132 94 — 233 Total current assets 7 3,518 1,140 (2,858 ) 1,807 Investment in subsidiaries 7,392 2,590 558 (10,540 ) — Due from affiliates — — 881 (881 ) — Property, plant and equipment, net 471 1,285 1,143 — 2,899 Goodwill — 1,127 41 — 1,168 Intangible assets — 989 238 (210 ) 1,017 Deferred income taxes 35 380 29 — 444 Other non-current assets 30 62 128 — 220 TOTAL ASSETS $ 7,935 $ 9,951 $ 4,158 $ (14,489 ) $ 7,555 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 47 $ 667 $ 235 $ — $ 949 Due to affiliates 1,913 — 945 (2,858 ) — Short-term debt — 25 6 — 31 Long-term debt – current portion — 1 2 — 3 Total current liabilities 1,960 693 1,188 (2,858 ) 983 Long-term debt, net of current portion 1,851 15 125 — 1,991 Due to affiliates — 881 — (881 ) — Pension plan liability 310 — 137 — 447 Other employee benefits liability — 237 15 — 252 Deferred income taxes — — 22 — 22 Other liabilities 122 175 43 (210 ) 130 OWENS CORNING STOCKHOLDERS’ EQUITY Preferred stock — — — — — Common stock 1 — — — 1 Additional paid in capital 3,954 6,371 1,927 (8,298 ) 3,954 Accumulated earnings 805 1,579 663 (2,242 ) 805 Accumulated other comprehensive deficit (550 ) — — — (550 ) Cost of common stock in treasury (518 ) — — — (518 ) Total Owens Corning stockholders’ equity 3,692 7,950 2,590 (10,540 ) 3,692 Noncontrolling interests — — 38 — 38 Total equity 3,692 7,950 2,628 (10,540 ) 3,730 TOTAL LIABILITIES AND EQUITY $ 7,935 $ 9,951 $ 4,158 $ (14,489 ) $ 7,555 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES $ (54 ) $ 221 $ 217 $ — $ 384 NET CASH FLOW USED FOR INVESTING ACTIVITIES Additions to plant and equipment (16 ) (170 ) (54 ) — (240 ) Proceeds from the sale of assets or affiliates — — 3 — 3 Purchases of alloy — — (8 ) — (8 ) Proceeds from sale of alloy — — 8 — 8 Net cash flow used for investing activities (16 ) (170 ) (51 ) — (237 ) NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES Proceeds from senior revolving credit and receivables securitization facilities 943 — 136 — 1,079 Payments on senior revolving credit and receivables securitization facilities (942 ) — (140 ) — (1,082 ) Payments on long-term debt (5 ) (1 ) (2 ) — (8 ) Net increase (decrease) in short-term debt — (13 ) 3 — (10 ) Cash dividends paid (58 ) — — — (58 ) Purchases of treasury stock (86 ) — — — (86 ) Other intercompany loans 200 (36 ) (164 ) — — Other 18 — — — 18 Net cash flow provided by financing activities 70 (50 ) (167 ) — (147 ) Effect of exchange rate changes on cash — — (5 ) — (5 ) Net increase in cash and cash equivalents — 1 (6 ) — (5 ) Cash and cash equivalents at beginning of period — 1 66 — 67 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ — $ 2 $ 60 $ — $ 62 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES $ (54 ) $ 131 $ (15 ) $ — $ 62 NET CASH FLOW USED FOR INVESTING ACTIVITIES Additions to plant and equipment (9 ) (120 ) (87 ) — (216 ) Proceeds from the sale of assets or affiliates 44 — 21 — 65 Investment in subsidiaries and affiliates, net of cash acquired — (5 ) (7 ) — (12 ) Proceeds from Hurricane Sandy insurance claims — — — — — Derivative Settlement — — 1 — 1 Purchases of alloy — — (25 ) — (25 ) Proceeds from sale of alloy 4 — 21 — 25 Net cash flow used for investing activities 39 (125 ) (76 ) — (162 ) NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES Proceeds from senior revolving credit and receivables securitization facilities 1,018 — 50 — 1,068 Payments on senior revolving credit and receivables securitization facilities (919 ) — — — (919 ) Payments on long-term debt — — (1 ) — (1 ) Net increase (decrease) in short-term debt — — 21 — 21 Cash dividends paid (37 ) — — — (37 ) Purchase of treasury stock (44 ) — — — (44 ) Other intercompany loans (10 ) (3 ) 13 — — Other 7 — — — 7 Net cash flow provided by financing activities 15 (3 ) 83 — 95 Effect of exchange rate changes on cash — — (1 ) — (1 ) Net increase in cash and cash equivalents — 3 (9 ) — (6 ) Cash and cash equivalents at beginning of period — 3 54 — 57 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ — $ 6 $ 45 $ — $ 51

SEGMENT INFORMATION (TABLE)

SEGMENT INFORMATION (TABLE)	9 Months Ended
SEGMENT INFORMATION (TABLE)	Sep. 30, 2015
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The following table summarizes our net sales by segment and geographic region (in millions). Corporate eliminations (shown below) largely reflect intercompany sales from Composites to Roofing. External customer sales are attributed to geographic region based upon the location from which the product is shipped to the external customer. Three Months Ended Nine Months Ended 2015 2014 2015 2014 Reportable Segments Composites $ 500 $ 489 $ 1,486 $ 1,471 Insulation 502 454 1,332 1,256 Roofing 502 474 1,398 1,408 Total reportable segments 1,504 1,417 4,216 4,135 Corporate eliminations (43 ) (35 ) (134 ) (120 ) NET SALES $ 1,461 $ 1,382 $ 4,082 $ 4,015
Schedule of Revenues by Geographical Areas	External Customer Sales by Geographic Region United States $ 1,029 $ 938 $ 2,825 $ 2,726 Europe 128 142 393 451 Asia Pacific 178 168 492 474 Other 126 134 372 364 NET SALES $ 1,461 $ 1,382 $ 4,082 $ 4,015
Schedule of Earnings before Interest and Taxes	The following table summarizes EBIT by segment (in millions): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Reportable Segments Composites $ 61 $ 32 $ 188 $ 96 Insulation 58 43 90 62 Roofing 103 58 213 200 Total reportable segments 222 133 491 358 Charges related to cost reduction actions and related items (2 ) (21 ) (4 ) (33 ) Net loss on sale of European Stone business — (1 ) — (20 ) Impairment loss on Alcala, Spain facility held for sale — (3 ) — (3 ) Gain on sale of Hangzhou, China facility — — — 45 Net loss related to Hurricane Sandy — — — (6 ) General corporate expense and other (24 ) (1 ) (77 ) (53 ) EBIT $ 196 $ 107 $ 410 $ 288

INVENTORIES (TABLE)

INVENTORIES (TABLE)	9 Months Ended
INVENTORIES (TABLE)	Sep. 30, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consist of the following (in millions): September 30, 2015 December 31, 2014 Finished goods $ 477 $ 568 Materials and supplies 224 249 Total inventories $ 701 $ 817

DERIVATIVE FINANCIAL INSTRUME29

DERIVATIVE FINANCIAL INSTRUMENTS (TABLE)	9 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS (TABLE)	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Assets and Liabilities at Fair Value	The following table presents the fair value of derivatives and hedging instruments and the respective location on the Consolidated Balance Sheets (in millions): Fair Value at Location September 30, 2015 December 31, 2014 Derivative assets designated as hedging instruments: Net investment hedges: Cross currency swaps Other current assets $ 5 $ — Cross currency swaps Other non current assets $ 3 $ — Amount of gain recognized in OCI (effective portion) OCI $ 9 $ — Fair value hedges: Interest rate swaps Other current assets $ 1 $ — Interest rate swaps Other non current assets $ 5 $ — Derivative liabilities designated as hedging instruments: Cash flow hedges: Natural gas and electricity, and foreign exchange contracts Accounts payable and accrued liabilities $ 4 $ 9 Amount of loss recognized in OCI (effective portion) OCI $ 6 $ 8 Fair value hedges: Interest rate swaps Other liabilities $ — $ (3 ) Derivative assets not designated as hedging instruments: Foreign exchange contracts Other current assets $ 1 $ 1 Derivative liabilities not designated as hedging instruments: Foreign exchange contracts Accounts payable and accrued liabilities $ 1 $ 2
Schedule of Fair Value Derivative Instruments Statements of Earnings Location	The following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings (in millions): Three Months Ended Nine Months Ended Location 2015 2014 2015 2014 Derivative activity designated as hedging instruments: Natural gas and electricity: Amount of loss reclassified from OCI into earnings (effective portion) Cost of sales $ 2 $ 1 $ 8 $ — Interest rate swaps: Amount of (gain) loss recognized in earnings Interest expense, net $ — $ (1 ) $ — $ — Derivative activity not designated as hedging instruments: Natural gas and electricity: Amount of (gain) recognized in earnings Other expenses (income), net $ — $ (5 ) $ (1 ) $ (5 ) Foreign currency exchange contract: Amount of (gain) loss recognized in earnings (a) Other expenses (income), net $ (3 ) $ — $ (3 ) $ 1 (a) Losses related to foreign currency derivatives were substantially offset by net revaluation impacts on foreign denominated balance sheet exposures, which were also recorded in Other expenses (income), net.

GOODWILL AND OTHER INTANGIBLE30

GOODWILL AND OTHER INTANGIBLE ASSETS (TABLE)	9 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS (TABLE)	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	The changes in the gross carrying amount of intangible assets by asset group are as follows (in millions): Customer relationships Technology Franchise and other agreements Trademarks Total Balance at December 31, 2014 $ 172 $ 193 $ 39 $ 786 $ 1,190 Additional Franchises and Agreements — — 4 — 4 Balance at September 30, 2015 $ 172 $ 193 $ 43 $ 786 $ 1,194

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (TABLE)	9 Months Ended
PROPERTY, PLANT AND EQUIPMENT (TABLE)	Sep. 30, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consist of the following (in millions): September 30, December 31, 2014 Land $ 193 $ 196 Buildings and leasehold improvements 778 789 Machinery and equipment 3,435 3,405 Construction in progress 296 233 4,702 4,623 Accumulated depreciation (1,817 ) (1,724 ) Property, plant and equipment, net $ 2,885 $ 2,899

WARRANTIES (TABLE)

WARRANTIES (TABLE)	9 Months Ended
WARRANTIES (TABLE)	Sep. 30, 2015
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	The Company records a liability for warranty obligations at the date the related products are sold. Adjustments are made as new information becomes available. A reconciliation of the warranty liability is as follows (in millions): Nine Months Ended September 30, 2015 Beginning balance $ 40 Amounts accrued for current year 13 Settlements of warranty claims (11 ) Ending balance $ 42

COST REDUCTION ACTIONS (TABLE)

COST REDUCTION ACTIONS (TABLE)	9 Months Ended
COST REDUCTION ACTIONS (TABLE)	Sep. 30, 2015
Cost Reduction Actions 2014
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost	The following table summarizes the status of the unpaid liabilities from the Company’s charges related to cost reduction actions (in millions): Balance at December 31, 2014 Costs Incurred Payments Foreign Currency Translation Non-cash Items Balance at September 30, 2015 Cumulative Charges Incurred Severance $ 31 $ (3 ) $ 17 $ (1 ) $ — $ 10 $ 33 Contract Termination 3 1 — — — 4 4 Pension Curtailment and Settlement — (3 ) — — 3 — (3 ) Total $ 34 $ (5 ) $ 17 $ (1 ) $ 3 $ 14 $ 34 The Company expects the unpaid balance of these severance and contract termination charges to be paid over the next year.

DEBT (TABLE)

DEBT (TABLE)	9 Months Ended
DEBT (TABLE)	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Details of the Company’s outstanding long-term debt are as follows (in millions): September 30, 2015 December 31, 2014 6.50% senior notes, net of discount, due 2016 $ 158 $ 158 9.00% senior notes, net of discount, due 2019 143 143 4.20% senior notes, net of discount, due 2022 600 600 4.20% senior notes, net of discount, due 2024 393 392 7.00% senior notes, net of discount, due 2036 540 540 Accounts receivable securitization facility, maturing in 2018 102 106 Senior revolving credit facility, maturing in 2018 — — Various capital leases, due through and beyond 2050 37 47 Fair value adjustment to debt 9 8 Total long-term debt 1,982 1,994 Less – current portion 3 3 Long-term debt, net of current portion $ 1,979 $ 1,991

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS (TABLE)	9 Months Ended
PENSION AND OTHER POSTRETIREMENT BENEFITS (TABLE)	Sep. 30, 2015
Pension Plan, Defined Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Benefit Costs	The following tables provide information regarding pension expense recognized (in millions): Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 2 $ 1 $ 3 $ 2 $ 2 $ 4 Interest cost 11 3 14 12 6 18 Expected return on plan assets (15 ) (5 ) (20 ) (14 ) (7 ) (21 ) Amortization of actuarial loss 4 1 5 2 1 3 Settlement gain — (1 ) (1 ) — — — Curtailment gain — (1 ) (1 ) — — — Net periodic pension cost $ 2 $ (2 ) $ — $ 2 $ 2 $ 4 Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 6 $ 3 $ 9 $ 6 $ 4 $ 10 Interest cost 33 13 46 36 17 53 Expected return on plan assets (44 ) (18 ) (62 ) (43 ) (20 ) (63 ) Amortization of actuarial loss 11 3 14 7 2 9 Settlement gain — (1 ) (1 ) — — — Curtailment gain — (2 ) (2 ) — — — Net periodic pension cost $ 6 $ (2 ) $ 4 $ 6 $ 3 $ 9
Other Postretirement Benefits Other Than Pensions
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Benefit Costs	The following table provides the components of net periodic benefit cost for aggregated United States and non-United States Plans for the periods indicated (in millions): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Components of Net Periodic Benefit Cost Service cost $ 1 $ 1 $ 2 $ 2 Interest cost 3 3 7 8 Amortization of prior service cost (1 ) (1 ) (3 ) (3 ) Amortization of actuarial gain — (1 ) — (2 ) Net periodic benefit cost $ 3 $ 2 $ 6 $ 5

STOCK COMPENSATION (TABLE)

STOCK COMPENSATION (TABLE)	9 Months Ended
STOCK COMPENSATION (TABLE)	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes the Company’s stock option activity: Nine Months Ended Number of Options Weighted- Average Exercise Price Beginning Balance 2,754,895 $ 31.04 Exercised (579,800 ) 30.31 Forfeited (105,100 ) 38.09 Expired (5,100 ) 41.89 Ending Balance 2,064,895 $ 30.86
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable	The following table summarizes information about the Company’s options outstanding and exercisable: Options Outstanding Options Exercisable Options Outstanding Weighted-Average Number Exercisable at September 30, 2015 Weighted-Average Range of Exercise Prices Remaining Contractual Life Exercise Price Remaining Contractual Life Exercise Price $13.89-$42.16 2,064,895 4.50 $ 30.86 1,664,395 3.72 $ 29.04
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	Nine Months Ended Number of Shares/Units Weighted-Average Grant-Date Fair Value Beginning Balance 1,727,741 $ 33.58 Granted 609,087 39.61 Vested (485,778 ) 34.32 Forfeited (129,999 ) 38.13 Ending Balance 1,721,051 $ 35.29
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest	Nine Months Ended Number of PSUs Weighted-Average Grant-Date Fair Value Beginning Balance 416,250 $ 49.53 Granted 251,600 43.88 Forfeited (80,650 ) 48.53 Ending Balance 587,200 $ 47.25

EARNINGS PER SHARE (TABLE)

EARNINGS PER SHARE (TABLE)	9 Months Ended
EARNINGS PER SHARE (TABLE)	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table is a reconciliation of weighted-average shares for calculating basic and diluted earnings per-share (in millions, except per share amounts): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Net earnings attributable to Owens Corning $ 112 $ 52 $ 221 $ 193 Weighted-average number of shares outstanding used for basic earnings per share 117.2 117.4 117.5 117.5 Non-vested restricted and performance shares 0.7 0.4 0.5 0.4 Options to purchase common stock 0.4 0.3 0.4 0.4 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share 118.3 118.1 118.4 118.3 Earnings per common share attributable to Owens Corning common stockholders: Basic $ 0.96 $ 0.44 $ 1.88 $ 1.64 Diluted $ 0.95 $ 0.44 $ 1.87 $ 1.63

FAIR VALUE MEASUREMENT (TABLE)

FAIR VALUE MEASUREMENT (TABLE)	9 Months Ended
FAIR VALUE MEASUREMENT (TABLE)	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value of Long Term Debt [Table Text Block]	Long-term debt The following table shows the fair value of the Company’s long-term debt as calculated based on quoted market prices for the same or similar issues (Level 2 input), or on the current rates offered to the Company for debt of the same remaining maturities: September 30, 2015 December 31, 2014 6.50% senior notes, net of discount, due 2016 104 % 109 % 9.00% senior notes, net of discount, due 2019 118 % 119 % 4.20% senior notes, net of discount, due 2022 102 % 101 % 4.20% senior notes, net of discount, due 2024 100 % 99 % 7.00% senior notes, net of discount, due 2036 118 % 124 %
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table summarizes the fair values and levels within the fair value hierarchy in which the fair value measurements fall as of September 30, 2015 (in millions): Total Measured at Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Derivative assets $ 15 $ — $ 15 $ — Liabilities: Derivative liabilities $ 5 $ — $ 5 $ — Contingent consideration 6 — — 6 Total liabilities $ 11 $ — $ 5 $ 6 The following table summarizes the fair values and levels within the fair value hierarchy in which the fair value measurements fall as of December 31, 2014 (in millions): Total Measured at Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Derivative assets $ 1 $ — $ 1 $ — Liabilities: Derivative liabilities $ 8 $ — $ 8 $ — Contingent consideration 5 — — 5 Total liabilities $ 13 $ — $ 8 $ 5

CHANGES IN ACCUMULATED OTHER 39

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Changes In Accumulated Other Comprehensive Income	CHANGES IN ACCUMULATED OTHER COMPREHENSIVE DEFICIT The following table summarizes the changes in accumulated other comprehensive income (deficit) (“AOCI”) (in millions): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Currency Translation Adjustment Beginning balance $ (176 ) $ (3 ) $ (133 ) $ 2 Loss on foreign currency translation (40 ) (60 ) (86 ) (65 ) Gain on net investment hedge 4 — 9 — Income tax expense of amount classified into AOCI (2 ) — (4 ) — Net loss on foreign currency translation (38 ) (60 ) (81 ) (65 ) (Gains)/Losses reclassified from AOCI to income — 1 — 1 Other comprehensive income/(loss), net of tax (38 ) (59 ) (81 ) (64 ) Ending balance $ (214 ) $ (62 ) $ (214 ) $ (62 ) Pension and Other Postretirement Adjustment Beginning balance $ (406 ) $ (298 ) $ (412 ) $ (300 ) Amortization of actuarial loss (a) 5 2 14 7 Amortization of prior service gain (a) (1 ) (1 ) (3 ) (3 ) Settlement gain (a) (1 ) — (1 ) — Income tax benefit of amounts reclassified from AOCI to income (1 ) (1 ) (4 ) (3 ) Net amortization and gain/(loss) reclassified from AOCI to net income 2 — 6 1 Translation impact on non-US. Plans 4 4 6 5 Other comprehensive income, net of tax 6 4 12 6 Ending balance $ (400 ) $ (294 ) $ (400 ) $ (294 ) Deferred Gain (Loss) on Hedging Beginning balance $ (2 ) $ — $ (5 ) $ 1 Change in mark to market hedges (4 ) (1 ) (5 ) (2 ) Income tax benefit of amount classified into AOCI 2 — 2 1 Net loss on derivative instruments (2 ) (1 ) (3 ) (1 ) Amounts reclassified from AOCI to income (b) 2 1 8 — Income tax benefit of amounts reclassified from AOCI to income (1 ) — (3 ) — Net gain reclassified from AOCI to net income 1 1 5 — Other comprehensive income/(loss), net of tax (1 ) — 2 (1 ) Ending balance $ (3 ) $ — $ (3 ) $ — Total AOCI ending balance $ (617 ) $ (356 ) $ (617 ) $ (356 )
Components of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in accumulated other comprehensive income (deficit) (“AOCI”) (in millions): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Currency Translation Adjustment Beginning balance $ (176 ) $ (3 ) $ (133 ) $ 2 Loss on foreign currency translation (40 ) (60 ) (86 ) (65 ) Gain on net investment hedge 4 — 9 — Income tax expense of amount classified into AOCI (2 ) — (4 ) — Net loss on foreign currency translation (38 ) (60 ) (81 ) (65 ) (Gains)/Losses reclassified from AOCI to income — 1 — 1 Other comprehensive income/(loss), net of tax (38 ) (59 ) (81 ) (64 ) Ending balance $ (214 ) $ (62 ) $ (214 ) $ (62 ) Pension and Other Postretirement Adjustment Beginning balance $ (406 ) $ (298 ) $ (412 ) $ (300 ) Amortization of actuarial loss (a) 5 2 14 7 Amortization of prior service gain (a) (1 ) (1 ) (3 ) (3 ) Settlement gain (a) (1 ) — (1 ) — Income tax benefit of amounts reclassified from AOCI to income (1 ) (1 ) (4 ) (3 ) Net amortization and gain/(loss) reclassified from AOCI to net income 2 — 6 1 Translation impact on non-US. Plans 4 4 6 5 Other comprehensive income, net of tax 6 4 12 6 Ending balance $ (400 ) $ (294 ) $ (400 ) $ (294 ) Deferred Gain (Loss) on Hedging Beginning balance $ (2 ) $ — $ (5 ) $ 1 Change in mark to market hedges (4 ) (1 ) (5 ) (2 ) Income tax benefit of amount classified into AOCI 2 — 2 1 Net loss on derivative instruments (2 ) (1 ) (3 ) (1 ) Amounts reclassified from AOCI to income (b) 2 1 8 — Income tax benefit of amounts reclassified from AOCI to income (1 ) — (3 ) — Net gain reclassified from AOCI to net income 1 1 5 — Other comprehensive income/(loss), net of tax (1 ) — 2 (1 ) Ending balance $ (3 ) $ — $ (3 ) $ — Total AOCI ending balance $ (617 ) $ (356 ) $ (617 ) $ (356 ) (a)These AOCI components are included in the computation of total Pension and OPEB expense and are recorded in cost of sales and marketing and administrative expenses. See Note 12 for additional information. (b) Amounts reclassified from gain/(loss) on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and is recognized in cost of sales. See Note 4 for additional information.

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (TABLE)	9 Months Ended
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (TABLE)	Sep. 30, 2015	Sep. 30, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Statement of Earnings	Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,044 $ 514 $ (97 ) $ 1,461 COST OF SALES (1 ) 826 393 (97 ) 1,121 Gross margin 1 218 121 — 340 OPERATING EXPENSES Marketing and administrative expenses 30 71 29 — 130 Science and technology expenses — 15 3 — 18 Charges related to cost reduction actions — — (5 ) — (5 ) Other expenses (income), net (24 ) — 25 — 1 Total operating expenses 6 86 52 — 144 EARNINGS BEFORE INTEREST AND TAXES (5 ) 132 69 — 196 Interest expense, net 25 — 3 — 28 Gain on extinguishment of debt — — — — — EARNINGS BEFORE TAXES (30 ) 132 66 — 168 Less: Income tax expense (10 ) 51 14 — 55 Equity in net earnings of subsidiaries 132 51 — (183 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 112 132 52 (183 ) 113 Less: Net earnings attributable to noncontrolling interests — — 1 — 1 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 112 $ 132 $ 51 $ (183 ) $ 112 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 964 $ 511 $ (93 ) $ 1,382 COST OF SALES (5 ) 795 434 (93 ) 1,131 Gross margin 5 169 77 — 251 OPERATING EXPENSES Marketing and administrative expenses 24 55 31 — 110 Science and technology expenses — 14 4 — 18 Charges related to cost reduction actions — — 19 — 19 Other expenses (income), net 2 (6 ) 1 — (3 ) Total operating expenses 26 63 55 — 144 EARNINGS BEFORE INTEREST AND TAXES (21 ) 106 22 — 107 Interest expense, net 26 — 2 — 28 EARNINGS BEFORE TAXES (47 ) 106 20 — 79 Less: Income tax expense (17 ) 37 7 — 27 Equity in net earnings of subsidiaries 82 13 — (95 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 52 82 13 (95 ) 52 Less: Net earnings attributable to noncontrolling interests — — — — — NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 52 $ 82 $ 13 $ (95 ) $ 52	Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 2,800 $ 1,496 $ (281 ) $ 4,015 COST OF SALES (9 ) 2,314 1,258 (281 ) 3,282 Gross margin 9 486 238 — 733 OPERATING EXPENSES Marketing and administrative expenses 84 191 97 — 372 Science and technology expenses — 44 13 — 57 Charges related to cost reduction actions — 1 30 — 31 Other expenses (income), net (14 ) 8 (9 ) — (15 ) Total operating expenses 70 244 131 — 445 EARNINGS BEFORE INTEREST AND TAXES (61 ) 242 107 — 288 Interest expense, net 80 2 4 — 86 EARNINGS BEFORE TAXES (141 ) 240 103 — 202 Less: Income tax expense (53 ) 46 16 — 9 Equity in net earnings of subsidiaries 281 87 — (368 ) — Equity in net earnings of affiliates — — 1 — 1 NET EARNINGS 193 281 88 (368 ) 194 Less: Net earnings attributable to noncontrolling interests — — 1 — 1 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 193 $ 281 $ 87 $ (368 ) $ 193 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 2,883 $ 1,485 $ (286 ) $ 4,082 COST OF SALES — 2,347 1,164 (286 ) 3,225 Gross margin — 536 321 — 857 OPERATING EXPENSES Marketing and administrative expenses 92 209 88 — 389 Science and technology expenses — 44 9 — 53 Charges related to cost reduction actions — — (5 ) — (5 ) Other expenses (income), net (41 ) 12 39 — 10 Total operating expenses 51 265 131 — 447 EARNINGS BEFORE INTEREST AND TAXES (51 ) 271 190 — 410 Interest expense, net 73 2 5 — 80 Gain on extinguishment of debt (5 ) — — — (5 ) EARNINGS BEFORE TAXES (119 ) 269 185 — 335 Less: Income tax expense (39 ) 97 54 — 112 Equity in net earnings of subsidiaries 301 129 — (430 ) — Equity in net earnings of affiliates — — 1 — 1 NET EARNINGS 221 301 132 (430 ) 224 Less: Net earnings attributable to noncontrolling interests — — 3 — 3 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 221 $ 301 $ 129 $ (430 ) $ 221
Condensed Consolidating Statement Of Comprehensive Earnings	Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 221 $ 301 $ 132 $ (430 ) $ 224 Currency translation adjustment (net of tax) (81 ) — — — (81 ) Pension and other postretirement adjustment (net of tax) 12 — — — 12 Deferred gain (loss) on hedging (net of tax) 2 — — — 2 COMPREHENSIVE EARNINGS 154 301 132 (430 ) 157 Less: Net earnings attributable to noncontrolling interests — — 3 — 3 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 154 $ 301 $ 129 $ (430 ) $ 154 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 112 $ 132 $ 52 $ (183 ) $ 113 Currency translation adjustment (net of tax) (38 ) — — — (38 ) Pension and other postretirement adjustment (net of tax) 6 — — — 6 Deferred gain (loss) on hedging (net of tax) (1 ) — — — (1 ) COMPREHENSIVE EARNINGS 79 132 52 (183 ) 80 Less: Net earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 79 $ 132 $ 51 $ (183 ) $ 79	OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 221 $ 301 $ 132 $ (430 ) $ 224 Currency translation adjustment (net of tax) (81 ) — — — (81 ) Pension and other postretirement adjustment (net of tax) 12 — — — 12 Deferred gain (loss) on hedging (net of tax) 2 — — — 2 COMPREHENSIVE EARNINGS 154 301 132 (430 ) 157 Less: Net earnings attributable to noncontrolling interests — — 3 — 3 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 154 $ 301 $ 129 $ (430 ) $ 154 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 193 $ 281 $ 88 $ (368 ) $ 194 Currency translation adjustment (net of tax) (64 ) — — — (64 ) Pension and other postretirement adjustment (net of tax) 6 — — — 6 Deferred gain (loss) on hedging (net of tax) (1 ) — — — (1 ) COMPREHENSIVE EARNINGS 134 281 88 (368 ) 135 Less: Comprehensive earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 134 $ 281 $ 87 $ (368 ) $ 134 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 52 $ 82 $ 13 $ (95 ) $ 52 Currency translation adjustment (net of tax) (59 ) — — — (59 ) Pension and other postretirement adjustment (net of tax) 4 — — — 4 Deferred gain (loss) on hedging (net of tax) — — — — — COMPREHENSIVE EARNINGS (3 ) 82 13 (95 ) (3 ) Less: Comprehensive earnings attributable to noncontrolling interests — — — — — COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ (3 ) $ 82 $ 13 $ (95 ) $ (3 )
Condensed Consolidating Balance Sheet	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2015 (in millions) ASSETS Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 2 $ 60 $ — $ 62 Receivables, less allowances — — 861 — 861 Due from affiliates — 3,170 — (3,170 ) — Inventories — 444 257 — 701 Assets held for sale — — 14 — 14 Other current assets 11 136 90 — 237 Total current assets 11 3,752 1,282 (3,170 ) 1,875 Investment in subsidiaries 7,614 2,495 559 (10,668 ) — Due from affiliates — — 815 (815 ) — Property, plant and equipment, net 462 1,344 1,079 — 2,885 Goodwill — 1,127 40 — 1,167 Intangible assets — 975 215 (186 ) 1,004 Deferred income taxes 29 297 26 — 352 Other non-current assets 33 63 132 — 228 TOTAL ASSETS $ 8,149 $ 10,053 $ 4,148 $ (14,839 ) $ 7,511 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 88 $ 631 $ 244 $ — $ 963 Due to affiliates 2,122 — 1,048 (3,170 ) — Short-term debt — 12 6 — 18 Long-term debt – current portion — 2 1 — 3 Total current liabilities 2,210 645 1,299 (3,170 ) 984 Long-term debt, net of current portion 1,843 14 122 — 1,979 Due to affiliates — 815 — (815 ) — Pension plan liability 257 — 118 — 375 Other employee benefits liability — 231 12 — 243 Deferred income taxes — — 18 — 18 Other liabilities 104 175 45 (186 ) 138 OWENS CORNING STOCKHOLDERS’ EQUITY Preferred stock — — — — — Common stock 1 — — — 1 Additional paid in capital 3,959 6,293 1,703 (7,996 ) 3,959 Accumulated earnings 966 1,880 792 (2,672 ) 966 Accumulated other comprehensive deficit (617 ) — — — (617 ) Cost of common stock in treasury (574 ) — — — (574 ) Total Owens Corning stockholders’ equity 3,735 8,173 2,495 (10,668 ) 3,735 Noncontrolling interests — — 39 — 39 Total equity 3,735 8,173 2,534 (10,668 ) 3,774 TOTAL LIABILITIES AND EQUITY $ 8,149 $ 10,053 $ 4,148 $ (14,839 ) $ 7,511	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2014 (in millions) ASSETS Parent Guarantor Non- Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 1 $ 66 $ — $ 67 Receivables, less allowances — — 674 — 674 Due from affiliates — 2,858 — (2,858 ) — Inventories — 527 290 — 817 Assets held for sale — — 16 — 16 Other current assets 7 132 94 — 233 Total current assets 7 3,518 1,140 (2,858 ) 1,807 Investment in subsidiaries 7,392 2,590 558 (10,540 ) — Due from affiliates — — 881 (881 ) — Property, plant and equipment, net 471 1,285 1,143 — 2,899 Goodwill — 1,127 41 — 1,168 Intangible assets — 989 238 (210 ) 1,017 Deferred income taxes 35 380 29 — 444 Other non-current assets 30 62 128 — 220 TOTAL ASSETS $ 7,935 $ 9,951 $ 4,158 $ (14,489 ) $ 7,555 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 47 $ 667 $ 235 $ — $ 949 Due to affiliates 1,913 — 945 (2,858 ) — Short-term debt — 25 6 — 31 Long-term debt – current portion — 1 2 — 3 Total current liabilities 1,960 693 1,188 (2,858 ) 983 Long-term debt, net of current portion 1,851 15 125 — 1,991 Due to affiliates — 881 — (881 ) — Pension plan liability 310 — 137 — 447 Other employee benefits liability — 237 15 — 252 Deferred income taxes — — 22 — 22 Other liabilities 122 175 43 (210 ) 130 OWENS CORNING STOCKHOLDERS’ EQUITY Preferred stock — — — — — Common stock 1 — — — 1 Additional paid in capital 3,954 6,371 1,927 (8,298 ) 3,954 Accumulated earnings 805 1,579 663 (2,242 ) 805 Accumulated other comprehensive deficit (550 ) — — — (550 ) Cost of common stock in treasury (518 ) — — — (518 ) Total Owens Corning stockholders’ equity 3,692 7,950 2,590 (10,540 ) 3,692 Noncontrolling interests — — 38 — 38 Total equity 3,692 7,950 2,628 (10,540 ) 3,730 TOTAL LIABILITIES AND EQUITY $ 7,935 $ 9,951 $ 4,158 $ (14,489 ) $ 7,555
Condensed Consolidating Statement of Cash Flows	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES $ (54 ) $ 221 $ 217 $ — $ 384 NET CASH FLOW USED FOR INVESTING ACTIVITIES Additions to plant and equipment (16 ) (170 ) (54 ) — (240 ) Proceeds from the sale of assets or affiliates — — 3 — 3 Purchases of alloy — — (8 ) — (8 ) Proceeds from sale of alloy — — 8 — 8 Net cash flow used for investing activities (16 ) (170 ) (51 ) — (237 ) NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES Proceeds from senior revolving credit and receivables securitization facilities 943 — 136 — 1,079 Payments on senior revolving credit and receivables securitization facilities (942 ) — (140 ) — (1,082 ) Payments on long-term debt (5 ) (1 ) (2 ) — (8 ) Net increase (decrease) in short-term debt — (13 ) 3 — (10 ) Cash dividends paid (58 ) — — — (58 ) Purchases of treasury stock (86 ) — — — (86 ) Other intercompany loans 200 (36 ) (164 ) — — Other 18 — — — 18 Net cash flow provided by financing activities 70 (50 ) (167 ) — (147 ) Effect of exchange rate changes on cash — — (5 ) — (5 ) Net increase in cash and cash equivalents — 1 (6 ) — (5 ) Cash and cash equivalents at beginning of period — 1 66 — 67 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ — $ 2 $ 60 $ — $ 62	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES $ (54 ) $ 131 $ (15 ) $ — $ 62 NET CASH FLOW USED FOR INVESTING ACTIVITIES Additions to plant and equipment (9 ) (120 ) (87 ) — (216 ) Proceeds from the sale of assets or affiliates 44 — 21 — 65 Investment in subsidiaries and affiliates, net of cash acquired — (5 ) (7 ) — (12 ) Proceeds from Hurricane Sandy insurance claims — — — — — Derivative Settlement — — 1 — 1 Purchases of alloy — — (25 ) — (25 ) Proceeds from sale of alloy 4 — 21 — 25 Net cash flow used for investing activities 39 (125 ) (76 ) — (162 ) NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES Proceeds from senior revolving credit and receivables securitization facilities 1,018 — 50 — 1,068 Payments on senior revolving credit and receivables securitization facilities (919 ) — — — (919 ) Payments on long-term debt — — (1 ) — (1 ) Net increase (decrease) in short-term debt — — 21 — 21 Cash dividends paid (37 ) — — — (37 ) Purchase of treasury stock (44 ) — — — (44 ) Other intercompany loans (10 ) (3 ) 13 — — Other 7 — — — 7 Net cash flow provided by financing activities 15 (3 ) 83 — 95 Effect of exchange rate changes on cash — — (1 ) — (1 ) Net increase in cash and cash equivalents — 3 (9 ) — (6 ) Cash and cash equivalents at beginning of period — 3 54 — 57 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ — $ 6 $ 45 $ — $ 51

INCOME TAXES (TABLES) (Tables)

INCOME TAXES (TABLES) (Tables)	9 Months Ended
INCOME TAXES (TABLES) (Tables)	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The following table provides the Income tax expense and effective tax rate for the periods indicated: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Income tax expense $ 55 $ 27 $ 112 $ 9 Effective tax rate 33 % 34 % 33 % 4 %

GENERAL (DETAIL)

GENERAL (DETAIL) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
GENERAL (DETAIL) - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Restatement of Prior Year Income, Tax Effects	$ 4	$ 8

SEGMENT INFORMATION (DETAIL)

SEGMENT INFORMATION (DETAIL) $ in Millions	3 Months Ended		9 Months Ended
SEGMENT INFORMATION (DETAIL) $ in Millions	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)segment	Sep. 30, 2014USD ($)
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	$ 1,461	$ 1,382	$ 4,082	$ 4,015
Income (loss) from Reportable Segments	222	133	491	358
Restructuring Charges and Related Items	(2)	(21)	(4)	(33)
Net loss related to Hurricane Sandy	0	0	0	(6)
General corporate expense and other	(24)	(1)	(77)	(53)
EBIT	196	107	410	288
Charges related to cost reduction actions	(5)	19	(5)	31
Other costs related to restructuring			$ (5)
Number of Reportable Segments \| segment			3
United States
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	1,029	938	$ 2,825	2,726
Europe
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	128	142	393	451
Asia Pacific
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	178	168	492	474
Other Geographical
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	126	134	372	364
Composites
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	500	489	1,486	1,471
Income (loss) from Reportable Segments			188	96
EBIT	61	32
Building Materials
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues			1,398	1,408
Income (loss) from Reportable Segments			213	200
Total Segments
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	1,504	1,417	4,216	4,135
Corporate Eliminations
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	(43)	(35)	(134)	(120)
Insulation
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	502	454	1,332	1,256
EBIT	58	43	90	62
Roofing
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	502	474
EBIT	103	58
Hangzhou
Segment Reporting, Significant Reconciling Item [Line Items]
Restructuring Charges and Related Items	0	0	0	45
European Stone [Member]
Segment Reporting, Significant Reconciling Item [Line Items]
Restructuring Charges and Related Items	0	(1)	0	(20)
Alcala Assets Held For Sale [Member]
Segment Reporting, Significant Reconciling Item [Line Items]
Restructuring Charges and Related Items	$ 0	$ (3)	$ 0	$ (3)

INVENTORIES (DETAIL)

INVENTORIES (DETAIL) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Finished goods	$ 477	$ 568
Materials and supplies	224	249
Total inventories	$ 701	$ 817

DERIVATIVE FINANCIAL INSTRUME45

DERIVATIVE FINANCIAL INSTRUMENTS BALANCE SHEET (DETAIL) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Derivatives, Fair Value [Line Items]
Loss Recognized in OCI, Effective Portion		$ 6
Two Months
Derivatives, Fair Value [Line Items]
Percent of exposures hedged	0	0
Exposure Time		2 months
Four Months
Derivatives, Fair Value [Line Items]
Percent of exposures hedged	0	0
Exposure Time		4 months
Twelve Months [Domain]
Derivatives, Fair Value [Line Items]
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimate of Time to Transfer	12 months
Beyond Twelve Months [Domain]
Derivatives, Fair Value [Line Items]
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimate of Time to Transfer	12 months
Natural Gas Contract
Derivatives, Fair Value [Line Items]
Derivative, Remaining Maturity		15 months
Electricity and Foreign Exchange Contracts [Member] \| Twelve Months [Domain]
Derivatives, Fair Value [Line Items]
Percent of exposures hedged	0	0
Electricity and Foreign Exchange Contracts [Member] \| Beyond Twelve Months [Domain]
Derivatives, Fair Value [Line Items]
Percent of exposures hedged	0	0
Other Current Assets \| Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	$ 1	$ 1	$ 0
Other Current Assets \| Designated as Hedging Instrument \| Net Investment Hedging [Member] \| Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	5	5	0
Other Current Assets \| Nondesignated \| Electricity and Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	1	1	1
Other Comprehensive Income \| Designated as Hedging Instrument \| Cash Flow Hedging \| Natural Gas Contract
Derivatives, Fair Value [Line Items]
Loss Recognized in OCI, Effective Portion		6	8
Other Comprehensive Income \| Designated as Hedging Instrument \| Net Investment Hedging [Member] \| Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	9	9
Accounts Payable and Accrued Liabilities \| Designated as Hedging Instrument \| Cash Flow Hedging \| Natural Gas Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	4	4	9
Accounts Payable and Accrued Liabilities \| Nondesignated \| Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	1	1	2
Other Liabilities [Member] \| Designated as Hedging Instrument \| Cash Flow Hedging \| Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	0	0	(3)
Other Noncurrent Assets [Member] \| Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	5	5	0
Other Noncurrent Assets [Member] \| Designated as Hedging Instrument \| Net Investment Hedging [Member] \| Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	$ 3	$ 3	$ 0

DERIVATIVE FINANCIAL INSTRUME46

DERIVATIVE FINANCIAL INSTRUMENTS INCOME STATEMENT (DETAIL) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Cost Of Sales \| Designated as Hedging Instrument \| Natural Gas Contract
Derivative Instruments Gain Loss [Line Items]
Amount of loss reclassified from OCI into earnings (effective portion)		$ 2	$ 1	$ 8	$ 0
Interest Expense \| Designated as Hedging Instrument \| Interest Rate Swap
Derivative Instruments Gain Loss [Line Items]
Amount of (gain) loss recognized in earnings		0	(1)	0	0
Other Expense \| Nondesignated \| Natural Gas Contract
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		0	5	1	5
Other Expense \| Nondesignated \| Foreign Exchange Contract
Derivative Instruments Gain Loss [Line Items]
Amount of (gain) loss recognized in earnings (a)	[1]	$ (3)	$ 0	$ (3)	$ 1

[1]	Losses related to foreign currency derivatives were substantially offset by net revaluation impacts on foreign denominated balance sheet exposures, which were also recorded in Other expenses (income), net.

GOODWILL AND OTHER INTANGIBLE47

GOODWILL AND OTHER INTANGIBLE ASSETS (DETAIL) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS (DETAIL) - USD ($)	Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2014
Goodwill [Roll Forward]
Balance as of December 31, 2014		$ 1,168,000,000
Balance as of March 31, 2015	$ 1,167,000,000	1,167,000,000	$ 1,168,000,000
Intangible Assets [Line Items]
Gross carrying amount	1,194,000,000	1,194,000,000	1,190,000,000
Accumulated amortization	(190,000,000)	(190,000,000)	(173,000,000)
Intangible assets	1,004,000,000	1,004,000,000	$ 1,017,000,000
Intangible assets amortization expense remainder of year	22,000,000	22,000,000
Intangible assets amortization expense year two	22,000,000	22,000,000
Intangible assets amortization expense year three	22,000,000	22,000,000
Intangible assets amortization expense year four	22,000,000	22,000,000
Intangible assets amortization expense year five	22,000,000	$ 22,000,000
Finite-lived Intangible Assets Acquired	4,000,000
Customer Relationships
Intangible Assets [Line Items]
Weighted average useful life		20 years	19 years
Gross carrying amount	172,000,000	$ 172,000,000	$ 172,000,000
Accumulated amortization	(80,000,000)	(80,000,000)	(72,000,000)
Net carrying amount	92,000,000	$ 92,000,000	$ 100,000,000
Finite-lived Intangible Assets Acquired	0
Technology
Intangible Assets [Line Items]
Weighted average useful life		21 years	20 years
Gross carrying amount	193,000,000	$ 193,000,000	$ 193,000,000
Accumulated amortization	(90,000,000)	(90,000,000)	(83,000,000)
Net carrying amount	103,000,000	$ 103,000,000	$ 110,000,000
Finite-lived Intangible Assets Acquired	0
Franchise and Other Agreements
Intangible Assets [Line Items]
Weighted average useful life		13 years	12 years
Gross carrying amount	43,000,000	$ 43,000,000	$ 39,000,000
Accumulated amortization	(20,000,000)	(20,000,000)	(18,000,000)
Net carrying amount	23,000,000	23,000,000	21,000,000
Finite-lived Intangible Assets Acquired	4,000,000
Trademarks
Intangible Assets [Line Items]
Gross carrying amount	786,000,000	786,000,000	786,000,000
Accumulated amortization	0	0	0
Indefinite-lived intangible assets	786,000,000	$ 786,000,000	$ 786,000,000
Finite-lived Intangible Assets Acquired	$ 0

PROPERTY, PLANT AND EQUIPMENT48

PROPERTY, PLANT AND EQUIPMENT (DETAIL) $ in Millions	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Property Plant And Equipment [Line Items]
Property Plant And Equipment Gross	$ 4,702	$ 4,623
Accumulated depreciation	(1,817)	(1,724)
Property, plant and equipment, net	$ 2,885	$ 2,899
Precious Metals Percentage	0.16	0.15
Precious Metals Depletion Percentage	0.00%
precious metal percent of deprecation expense	0.03
Land
Property Plant And Equipment [Line Items]
Property Plant And Equipment Gross	$ 193	$ 196
Buildings and Leasehold Improvements
Property Plant And Equipment [Line Items]
Property Plant And Equipment Gross	778	789
Machinery And Equipment
Property Plant And Equipment [Line Items]
Property Plant And Equipment Gross	3,435	3,405
Construction In Progress
Property Plant And Equipment [Line Items]
Property Plant And Equipment Gross	$ 296	$ 233

WARRANTIES (DETAIL)

WARRANTIES (DETAIL) $ in Millions	9 Months Ended
WARRANTIES (DETAIL) $ in Millions	Sep. 30, 2015USD ($)
Movement In Standard And Extended Product Warranty Increase Decrease Roll Forward
Product Warranty Accrual, Beginning Balance	$ 40
Amounts accrued for current year	13
Settlements of warranty claims	(11)
Product Warranty Accrual, Ending Balance	$ 42

COST REDUCTION ACTIONS (DETAIL)

COST REDUCTION ACTIONS (DETAIL) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
COST REDUCTION ACTIONS (DETAIL) - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015
Restructuring Reserve Roll Forward
Restructuring Reserve, Beginning Balance			$ 34
Charges related to cost reduction actions	$ (5)	$ 19	(5)	$ 31
Restructuring Reserve, Ending Balance	14		14
Cumulative charges incurred					$ 34
Severance Costs			3
Restructuring Reserve, Settled without Cash			3
Other costs related to restructuring			(5)
Restructuring Reserve	14		34		14
Payments for Restructuring			17
Restructuring Reserve, Translation and Other Adjustment			(1)
Employee Severance
Restructuring Reserve Roll Forward
Restructuring Reserve, Beginning Balance			31
Restructuring Reserve, Ending Balance	10		10
Cumulative charges incurred					33
Restructuring Reserve, Settled without Cash			0
Other costs related to restructuring			(3)
Restructuring Reserve	10		31		10
Payments for Restructuring			17
Restructuring Reserve, Translation and Other Adjustment			(1)
Contract Termination
Restructuring Reserve Roll Forward
Restructuring Reserve, Beginning Balance			3
Restructuring Reserve, Ending Balance	4		4
Cumulative charges incurred					4
Restructuring Reserve, Settled without Cash			0
Other costs related to restructuring			1
Restructuring Reserve	4		3		4
Payments for Restructuring			0
Restructuring Reserve, Translation and Other Adjustment			0
Curtailment and Settlement [Member]
Restructuring Reserve Roll Forward
Restructuring Reserve, Beginning Balance			0
Restructuring Reserve, Ending Balance	0		0
Cumulative charges incurred					(3)
Restructuring Reserve, Settled without Cash			3
Other costs related to restructuring			(3)
Restructuring Reserve	$ 0		0		$ 0
Payments for Restructuring			0
Restructuring Reserve, Translation and Other Adjustment			0
Japan Restructuring [Member]
Restructuring Reserve Roll Forward
Other costs related to restructuring			$ 9

DEBT (DETAIL)

DEBT (DETAIL) - USD ($) $ in Millions	3 Months Ended					9 Months Ended		12 Months Ended
DEBT (DETAIL) - USD ($) $ in Millions	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2012	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Nov. 12, 2014	Jun. 30, 2013	Oct. 17, 2012	Dec. 31, 2011
Long-Term Debt [Line Items]
Long Term Debt	$ 1,982		$ 1,994			$ 1,982		$ 1,994
Fair Value Adjustment to Debt	9		8			9		8
Long Term Debt Current	3		3			3		3
Long Term Debt Noncurrent	1,979		1,991			1,979		1,991
Interest Rate Swap Agreement, Principal Amount											$ 100
Line Of Credit Facility Maximum Borrowing Capacity									$ 800
Short-term debt	$ 18		$ 31			$ 18		$ 31
Short-term Debt, Weighted Average Interest Rate	0.00%		0.00%			0.00%		0.00%
letters of credit sublimit									$ 100
Reduction In Capital Lease Obligation						$ 10
Gains (Losses) on Extinguishment of Debt	$ 0	$ 5		$ 0		(5)	$ 0
Senior Notes Due 2016
Long-Term Debt [Line Items]
Long Term Debt	158		$ 158			158		$ 158
Debt Instrument Face Amount												$ 650
Repayments of Debt			242		$ 250
Debt Instrument, Interest Rate, Stated Percentage													0.00%
Senior Notes Due 2019
Long-Term Debt [Line Items]
Long Term Debt	$ 143		$ 143			$ 143		$ 143
Debt Instrument Face Amount												350
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	9.00%		9.00%			9.00%		9.00%
Repayments of Debt			$ 105		$ 100
Senior Notes Due 2022
Long-Term Debt [Line Items]
Long Term Debt	$ 600		600			$ 600		$ 600
Debt Instrument Face Amount												600
Debt Instrument, Interest Rate, Stated Percentage													0.00%
Senior Notes Due 2036
Long-Term Debt [Line Items]
Long Term Debt	$ 540		$ 540			$ 540		$ 540
Debt Instrument Face Amount												$ 540
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	7.00%		7.00%			7.00%		7.00%
Letter Of Credit Under Receivables Purchase Agreement
Long-Term Debt [Line Items]
Long Term Debt	$ 102		$ 106			$ 102		$ 106
Line Of Credit Facility Amount Outstanding	102					102
Letters of Credit Outstanding, Amount	2					2
Line of Credit Facility, Current Borrowing Capacity	250					250
Line of Credit Facility, Current Borrowing Capacity, In Fourth Quarter						200
Senior Revolving Credit Facility B
Long-Term Debt [Line Items]
Long Term Debt	0		0			0		0
Line Of Credit Facility Amount Outstanding	0					0
Letters of Credit Outstanding, Amount	9					9
Line of Credit Facility, Current Borrowing Capacity	791					791
Capital Lease Obligations
Long-Term Debt [Line Items]
Long Term Debt	37		47			37		47
Senior Notes Due 2024 [Member]
Long-Term Debt [Line Items]
Long Term Debt	$ 393		$ 392			$ 393		392
Debt Instrument Face Amount										$ 400
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate										0.00%
Debt Issuance Cost								$ 4

PENSION PLANS AND OTHER POSTR52

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (DETAIL) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	$ 3	$ 4	$ 9	$ 10
Interest cost	14	18	46	53
Expected return on plan assets	(20)	(21)	(62)	(63)
Amortization of actuarial loss	5	3	14	9
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments	(1)	0	(2)	0
Net periodic pension cost	0	4	4	9
Pension Settlement Expense	(1)	0	(1)	0
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Defined Benefit Plan, Contributions by Employer			59
United States Pension Plans Of US Entity Defined Benefit
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	2	2	6	6
Interest cost	11	12	33	36
Expected return on plan assets	(15)	(14)	(44)	(43)
Amortization of actuarial loss	4	2	11	7
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments	0	0	0	0
Net periodic pension cost	2	2	6	6
Pension Settlement Expense	0	0	0	0
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year			48
Foreign Pension Plans Defined Benefit
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	1	2	3	4
Interest cost	3	6	13	17
Expected return on plan assets	(5)	(7)	(18)	(20)
Amortization of actuarial loss	1	1	3	2
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments	(1)	0	(2)	0
Net periodic pension cost	(2)	2	(2)	3
Pension Settlement Expense	(1)	0	(1)	0
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year			14
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	1	1	2	2
Interest cost	3	3	7	8
Amortization of actuarial loss	0	(1)	0	(2)
Amortization of prior service cost	(1)	(1)	(3)	(3)
Net periodic pension cost	$ 3	$ 2	$ 6	$ 5

CONTINGENT LIABILITIES AND OT53

CONTINGENT LIABILITIES AND OTHER MATTERS (DETAIL) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)Number
Unusual or Infrequent Item [Line Items]
Environmental Liability Sites	19
Environmental Exit Costs, Reasonably Possible Additional Losses, Best Estimate \| $	$ 2

STOCK COMPENSATION (DETAIL)

STOCK COMPENSATION (DETAIL) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)$ / sharesshares	Sep. 30, 2014USD ($)	Apr. 18, 2013shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate			1.10%
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate					85.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate			29.20%
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract
Number of shares granted			251,600
Number of shares forfeited			(80,650)
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Expected Term			2 years 10 months 25 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average fair value of grants \| $ / shares			$ 43.88
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	2,000,000		2,000,000
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Roll Forward
Share-based compensation number of options beginning balance			2,754,895
Exercises in period number of options			(579,800)
Forfeitures in period number of options			(105,100)
Share-based compensation number of options ending balance	2,064,895		2,064,895
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period			(5,100)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning Balance \| $ / shares			$ 31.04
Exercises in period weighted average exercise price \| $ / shares			30.31
Forfeitures n period weighted average exercise price \| $ / shares			38.09
Ending Balance \| $ / shares	$ 30.86		30.86
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price \| $ / shares			$ 41.89
Exercise Price Range One
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options	2,064,895		2,064,895
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term			4 years 6 months
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price, Beginning Balance \| $ / shares	$ 30.86		$ 30.86
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	1,664,395		1,664,395
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term			3 years 8 months 19 days
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price \| $ / shares	$ 29.04		$ 29.04
Minimum
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price \| $ / shares	13.89		13.89
Maximum
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price \| $ / shares	$ 42.16		$ 42.16
EmployeeStock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant					2,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Terms of Award, Maximum (in years)				10 years
Allocated Share Based Compensation Expense \| $	$ 1	$ 1	$ 3	$ 4
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized \| $	5		$ 5
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition			1 year 11 months 25 days
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value \| $	23		$ 23
Employee emergence equity program expense \| $	1	1	$ 1	1
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term			2 years 8 months 22 days
Allocated Share Based Compensation Expense \| $	5	4	$ 13	13
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized \| $	$ 30		30
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value \| $			$ 17	14
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Beginning Balance			1,727,741
Number of shares granted			609,087
Number of shares vested			(485,778)
Number of shares forfeited			(129,999)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	1,721,051		1,721,051
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning Balance \| $ / shares			$ 33.58
Weighted average fair value of grants \| $ / shares			39.61
Weighted average fair value of vested \| $ / shares			34.32
Weighted average fair value of forfeited \| $ / shares			38.13
Ending Balance \| $ / shares	$ 35.29		$ 35.29
Performance Stock Units (PSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Allocated Share Based Compensation Expense \| $	$ 2	$ 1	$ 5	$ 4
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized \| $	$ 11		$ 11
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition			1 year 9 months 20 days
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Beginning Balance			416,250
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	587,200		587,200
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning Balance \| $ / shares			$ 49.53
Weighted average fair value of forfeited \| $ / shares			48.53
Ending Balance \| $ / shares	$ 47.25		$ 47.25
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Allocated Share Based Compensation Expense \| $			$ 1
Internal Based Performance Metric [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance Stock Payout Minimum			0
Performance Stock Payout Range Maximum			3
External Based Performance Metric [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance Stock Payout Minimum			0
Performance Stock Payout Range Maximum			2

EARNINGS PER SHARE (DETAIL)

EARNINGS PER SHARE (DETAIL) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Apr. 25, 2012
Equity Class Of Treasury Stock [Line Items]
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	5,600,000		5,600,000
Net earnings attributable to Owens Corning	$ 112	$ 52	$ 221	$ 193
Weighted-average number of shares outstanding used for basic earnings per share	117,200,000	117,400,000	117,500,000	117,500,000
Non-vested restricted and performance shares	700,000	400,000	500,000	400,000
Options to purchase common stock	400,000	300,000	400,000	400,000
Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share	118,300,000	118,100,000	118,400,000	118,300,000
Basic (in dollars per share)	$ 0.96	$ 0.44	$ 1.88	$ 1.64
Diluted (in dollars per share)	$ 0.95	$ 0.44	$ 1.87	$ 1.63
Stock Repurchased During Period, Shares			2,100,000
Payments for Repurchase of Equity	$ 89
Repurchase Program 2012
Equity Class Of Treasury Stock [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased					10,000,000
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount			100,000
Equity Option
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	600,000	1,300,000	600,000	1,000,000
Performance Shares [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount		100,000

FAIR VALUE MEASUREMENT (DETAIL)

FAIR VALUE MEASUREMENT (DETAIL) - USD ($)	9 Months Ended
FAIR VALUE MEASUREMENT (DETAIL) - USD ($)	Sep. 30, 2015	Dec. 31, 2014	Nov. 12, 2014
Assets:
Derivative assets	$ 15,000,000	$ 1,000,000
Liabilities:
Derivative liabilities	5,000,000	8,000,000
Total liabilities	11,000,000	$ 13,000,000
Contingent consideration change in fair value	$ 1,000,000
Senior Notes Due 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	104.00%	109.00%
Senior Notes Due 2036
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	7.00%	7.00%
Notes Payable, Fair Value Disclosure, Par Value	118.00%	124.00%
Senior Notes Due 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	9.00%	9.00%
Notes Payable, Fair Value Disclosure, Par Value	118.00%	119.00%
Senior Notes Due 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	102.00%	101.00%
Senior Notes Due 2024 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate			0.00%
Notes Payable, Fair Value Disclosure, Par Value	100.00%	99.00%
Fair Value Inputs Level 1
Assets:
Derivative assets	$ 0	$ 0
Liabilities:
Derivative liabilities	0	0
Contingent consideration	0	0
Total liabilities	0	0
Fair Value Inputs Level 2
Assets:
Derivative assets	15,000,000	1,000,000
Liabilities:
Derivative liabilities	5,000,000	8,000,000
Contingent consideration	0	0
Total liabilities	5,000,000	8,000,000
Fair Value Inputs Level 3
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Contingent consideration	6,000,000	5,000,000
Total liabilities	6,000,000	$ 5,000,000
Maximum Payout
Liabilities:
Contingent consideration	7,000,000
Minimum Payout
Liabilities:
Contingent consideration	$ 4,000,000

INCOME TAXES (DETAIL)

INCOME TAXES (DETAIL) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
INCOME TAXES (DETAIL) - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Valuation Allowance [Line Items]
Current Income Tax Expense (Benefit)	$ 55	$ 27	$ 112	$ 9
Effective Income Tax Rate Continuing Operations	0.00%	0.00%	0.00%	0.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	0.00%
Tax Credit Carryforward, Valuation Allowance	$ 78		$ 78
Maximum [Member]
Valuation Allowance [Line Items]
Operating Loss Carryforwards, Valuation Allowance	50		50
Minimum [Member]
Valuation Allowance [Line Items]
Operating Loss Carryforwards, Valuation Allowance	$ 0		$ 0

CHANGES IN ACCUMULATED OTHER 58

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (DETAIL) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance			$ (550)
Deferred loss on hedging transactions (net of tax)	$ (1)	$ 0	2	$ (1)
Pension and other postretirement adjustment (net of tax)	6	4	12	6
Translation impact on non-US. Plans	(38)	(59)	(81)	(64)
Total AOCI ending balance	$ (617)	$ (356)	$ (617)	$ (356)

CHANGES IN ACCUMULATED OTHER 59

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCI beginning balance			$ (550)
Other comprehensive income/(loss), net of tax	$ (1)	$ 0	2	$ (1)
Translation impact on non-US. Plans	(38)	(59)	(81)	(64)
Other comprehensive income/(loss), net of tax	6	4	12	6
Total AOCI ending balance	(617)	(356)	(617)	(356)
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCI beginning balance	(176)	(3)	(133)	2
Loss on foreign currency translation	(40)	(60)	(86)	(65)
Gain on net investment hedge	(4)	0	9	0
Income tax expense of amount classified into AOCI	2	0	(4)	0
Net loss on foreign currency translation	(38)	(60)	(81)	(65)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	0	1	0	1
Translation impact on non-US. Plans	(38)	(59)	(81)	(64)
Total AOCI ending balance	(214)	(62)	(214)	(62)
Ending balance
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCI beginning balance	(2)	0	(5)	1
Change in mark to market hedges	(4)	(1)	(5)	(2)
Income tax benefit of amount classified into AOCI	(2)	0	2	1
Net loss on derivative instruments	(2)	(1)	(3)	(1)
Amounts reclassified from AOCI to income	(2)	(1)	8	0
Income tax benefit of amounts reclassified from AOCI to income	(1)	0	(3)	0
Net gain reclassified from AOCI to net income	(1)	(1)	5	0
Other comprehensive income/(loss), net of tax	(1)	0	2	(1)
Total AOCI ending balance	(3)	0	(3)	0
Pension and Other Postretirement Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCI beginning balance	(406)	(298)	(412)	(300)
Amortization of actuarial (Gain)/Loss	(5)	(2)	14	7
Amortization of prior service (Gain)/Cost	(1)	(1)	(3)	(3)
Other Comprehensive Income (Loss), Finalization of Pension and Other Postretirement Benefit Plan Valuation, Net of Tax	(1)	0	(1)	0
Income tax Expense/(Benefit) of amounts reclassified from AOCI to income	1	1	(4)	(3)
Net amortization and Gains/(Losses) reclassified from AOCI to net income	2	0	6	1
Translation impact on non-US. Plans	4	4	6	5
Other comprehensive income/(loss), net of tax	(6)	(4)	12	6
Total AOCI ending balance	$ (400)	$ (294)	$ (400)	$ (294)

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF EARNINGS (DETAIL) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Financial Statements Captions [Line Items]
NET SALES	$ 1,461		$ 1,382	$ 4,082	$ 4,015
COST OF SALES	1,121		1,131	3,225	3,282
Gross margin	340		251	857	733
OPERATING EXPENSES
Marketing and administrative expenses	130		110	389	372
Science and technology expenses	18		18	53	57
Charges related to cost reduction actions	(5)		19	(5)	31
Other (income) expenses, net	1		(3)	10	(15)
Total operating expenses	144		144	447	445
EARNINGS BEFORE INTEREST AND TAXES	196		107	410	288
Interest expense, net	28		28	80	86
EARNINGS BEFORE TAXES	168		79	335	202
Less: Income tax expense	55		27	112	9
Equity in net earnings of subsidiaries	0		0	0	0
Equity in net earnings of affiliates	0		0	1	1
NET EARNINGS	113		52	224	194
Less: Net earnings attributable to noncontrolling interests	1		0	3	1
Gains (Losses) on Extinguishment of Debt	0	$ 5	0	(5)	0
Net Income (Loss) Attributable to Parent	112		52	221	193
Parent Company
Condensed Financial Statements Captions [Line Items]
NET SALES	0		0	0	0
COST OF SALES	(1)		(5)	0	(9)
Gross margin	1		5	0	9
OPERATING EXPENSES
Marketing and administrative expenses	30		24	92	84
Science and technology expenses	0		0	0	0
Charges related to cost reduction actions	0		0	0	0
Other (income) expenses, net	(24)		2	(41)	(14)
Total operating expenses	6		26	51	70
EARNINGS BEFORE INTEREST AND TAXES	(5)		(21)	(51)	(61)
Interest expense, net	25		26	73	80
EARNINGS BEFORE TAXES	(30)		(47)	(119)	(141)
Less: Income tax expense	(10)		(17)	(39)	(53)
Equity in net earnings of subsidiaries	132		82	301	281
Equity in net earnings of affiliates	0		0	0	0
NET EARNINGS	112		52	221	193
Less: Net earnings attributable to noncontrolling interests	0		0	0	0
Gains (Losses) on Extinguishment of Debt	0			(5)
Net Income (Loss) Attributable to Parent	112		52	221	193
Guarantor Subsidiaries
Condensed Financial Statements Captions [Line Items]
NET SALES	1,044		964	2,883	2,800
COST OF SALES	826		795	2,347	2,314
Gross margin	218		169	536	486
OPERATING EXPENSES
Marketing and administrative expenses	71		55	209	191
Science and technology expenses	15		14	44	44
Charges related to cost reduction actions	0		0	0	1
Other (income) expenses, net	0		(6)	12	8
Total operating expenses	86		63	265	244
EARNINGS BEFORE INTEREST AND TAXES	132		106	271	242
Interest expense, net	0		0	2	2
EARNINGS BEFORE TAXES	132		106	269	240
Less: Income tax expense	51		37	97	46
Equity in net earnings of subsidiaries	51		13	129	87
Equity in net earnings of affiliates	0		0	0	0
NET EARNINGS	132		82	301	281
Less: Net earnings attributable to noncontrolling interests	0		0	0	0
Gains (Losses) on Extinguishment of Debt	0			0
Net Income (Loss) Attributable to Parent	132		82	301	281
Non Guarantor Subsidiaries
Condensed Financial Statements Captions [Line Items]
NET SALES	514		511	1,485	1,496
COST OF SALES	393		434	1,164	1,258
Gross margin	121		77	321	238
OPERATING EXPENSES
Marketing and administrative expenses	29		31	88	97
Science and technology expenses	3		4	9	13
Charges related to cost reduction actions	(5)		19	(5)	30
Other (income) expenses, net	25		1	39	(9)
Total operating expenses	52		55	131	131
EARNINGS BEFORE INTEREST AND TAXES	69		22	190	107
Interest expense, net	3		2	5	4
EARNINGS BEFORE TAXES	66		20	185	103
Less: Income tax expense	14		7	54	16
Equity in net earnings of subsidiaries	0		0	0	0
Equity in net earnings of affiliates	0		0	1	1
NET EARNINGS	52		13	132	88
Less: Net earnings attributable to noncontrolling interests	1		0	3	1
Gains (Losses) on Extinguishment of Debt	0			0
Net Income (Loss) Attributable to Parent	51		13	129	87
Consolidation Eliminations
Condensed Financial Statements Captions [Line Items]
NET SALES	(97)		(93)	(286)	(281)
COST OF SALES	(97)		(93)	(286)	(281)
Gross margin	0		0	0	0
OPERATING EXPENSES
Marketing and administrative expenses	0		0	0	0
Science and technology expenses	0		0	0	0
Charges related to cost reduction actions	0		0	0	0
Other (income) expenses, net	0		0	0	0
Total operating expenses	0		0	0	0
EARNINGS BEFORE INTEREST AND TAXES	0		0	0	0
Interest expense, net	0		0	0	0
EARNINGS BEFORE TAXES	0		0	0	0
Less: Income tax expense	0		0	0	0
Equity in net earnings of subsidiaries	(183)		(95)	(430)	(368)
Equity in net earnings of affiliates	0		0	0	0
NET EARNINGS	(183)		(95)	(430)	(368)
Less: Net earnings attributable to noncontrolling interests	0		0	0	0
Gains (Losses) on Extinguishment of Debt	0			0
Net Income (Loss) Attributable to Parent	$ (183)		$ (95)	$ (430)	$ (368)

CONDENSED CONSOLIDATED STATEM61

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE EARNINGS (DETAIL) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Financial Statements Captions [Line Items]
NET EARNINGS	$ 113	$ 52	$ 224	$ 194
Currency translation adjustment (net of tax)	(38)	(59)	(81)	(64)
Pension and other postretirement adjustment (net of tax)	6	4	12	6
Deferred loss on hedging transactions (net of tax)	(1)	0	2	(1)
COMPREHENSIVE EARNINGS	80	(3)	157	135
Less: Net earnings attributable to noncontrolling interests	1	0	3	1
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	79	(3)	154	134
Parent Company
Condensed Financial Statements Captions [Line Items]
NET EARNINGS	112	52	221	193
Currency translation adjustment (net of tax)	(38)	(59)	(81)	(64)
Pension and other postretirement adjustment (net of tax)	6	4	12	6
Deferred loss on hedging transactions (net of tax)	(1)	0	2	(1)
COMPREHENSIVE EARNINGS	79	(3)	154	134
Less: Net earnings attributable to noncontrolling interests	0	0	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	79	(3)	154	134
Guarantor Subsidiaries
Condensed Financial Statements Captions [Line Items]
NET EARNINGS	132	82	301	281
Currency translation adjustment (net of tax)	0	0	0	0
Pension and other postretirement adjustment (net of tax)	0	0	0	0
Deferred loss on hedging transactions (net of tax)	0	0	0	0
COMPREHENSIVE EARNINGS	132	82	301	281
Less: Net earnings attributable to noncontrolling interests	0	0	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	132	82	301	281
Non Guarantor Subsidiaries
Condensed Financial Statements Captions [Line Items]
NET EARNINGS	52	13	132	88
Currency translation adjustment (net of tax)	0	0	0	0
Pension and other postretirement adjustment (net of tax)	0	0	0	0
Deferred loss on hedging transactions (net of tax)	0	0	0	0
COMPREHENSIVE EARNINGS	52	13	132	88
Less: Net earnings attributable to noncontrolling interests	1	0	3	1
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	51	13	129	87
Consolidation Eliminations
Condensed Financial Statements Captions [Line Items]
NET EARNINGS	(183)	(95)	(430)	(368)
Currency translation adjustment (net of tax)	0	0	0	0
Pension and other postretirement adjustment (net of tax)	0	0	0	0
Deferred loss on hedging transactions (net of tax)	0	0	0	0
COMPREHENSIVE EARNINGS	(183)	(95)	(430)	(368)
Less: Net earnings attributable to noncontrolling interests	0	0	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ (183)	$ (95)	$ (430)	$ (368)

CONDENSED CONSOLIDATED BALANC62

CONDENSED CONSOLIDATED BALANCE SHEET (DETAIL) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2014	Sep. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
CURRENT ASSETS
Cash and cash equivalents			$ 62	$ 67	$ 51	$ 57
Receivables, less allowances			861	674
Due from affiliates			0	0
Inventories			701	817
Assets held for sale			14	16
Other current assets			237	233
Total current assets			1,875	1,807
Condensed Consolidating Financial Statement Balance Sheet Prior Period Reclass		$ 112
Investment in subsidiaries			0	0
Due from affiliates			0	0
Property, plant and equipment, net			2,885	2,899
Goodwill			1,167	1,168
Intangible assets			1,004	1,017
Deferred income taxes			352	444
Other non-current assets			228	220
TOTAL ASSETS			7,511	7,555
CURRENT LIABILITIES
Accounts payable and accrued liabilities			963	949
Due to affiliates			0	0
Short-term debt			18	31
Long-term debt – current portion			3	3
Total current liabilities			984	983
Long-term debt, net of current portion			1,979	1,991
Due to affiliates			0	0
Pension plan liability			375	447
Other employee benefits liability			243	252
Deferred income taxes			18	22
Other liabilities			138	130
OWENS CORNING STOCKHOLDERS' EQUITY
Preferred stock	[1]		0	0
Common stock	[2]		1	1
Additional paid in capital			3,959	3,954
Accumulated earnings			966	805
Accumulated other comprehensive deficit		$ (356)	(617)	(550)
Cost of common stock in treasury	[3]		(574)	(518)
Total Owens Corning stockholders’ equity			3,735	3,692
Noncontrolling interests			39	38
Total equity			3,774	3,730
TOTAL LIABILITIES AND EQUITY			7,511	7,555
Parent Company
CURRENT ASSETS
Cash and cash equivalents			0	0	0	0
Receivables, less allowances			0	0
Due from affiliates			0	0
Inventories			0	0
Assets held for sale			0	0
Other current assets			11	7
Total current assets			11	7
Investment in subsidiaries			7,614	7,392
Due from affiliates			0	0
Property, plant and equipment, net			462	471
Goodwill			0	0
Intangible assets			0	0
Deferred income taxes			29	35
Other non-current assets			33	30
TOTAL ASSETS			8,149	7,935
CURRENT LIABILITIES
Accounts payable and accrued liabilities			88	47
Due to affiliates			2,122	1,913
Short-term debt			0	0
Long-term debt – current portion			0	0
Total current liabilities			2,210	1,960
Long-term debt, net of current portion			1,843	1,851
Due to affiliates			0	0
Pension plan liability			257	310
Other employee benefits liability			0	0
Deferred income taxes			0	0
Other liabilities			104	122
OWENS CORNING STOCKHOLDERS' EQUITY
Preferred stock			0	0
Common stock			1	1
Additional paid in capital			3,959	3,954
Accumulated earnings			966	805
Accumulated other comprehensive deficit			(617)	(550)
Cost of common stock in treasury			(574)	(518)
Total Owens Corning stockholders’ equity			3,735	3,692
Noncontrolling interests			0	0
Total equity			3,735	3,692
TOTAL LIABILITIES AND EQUITY			8,149	7,935
Guarantor Subsidiaries
CURRENT ASSETS
Cash and cash equivalents			2	1	6	3
Receivables, less allowances			0	0
Due from affiliates			3,170	2,858
Inventories			444	527
Assets held for sale			0	0
Other current assets			136	132
Total current assets			3,752	3,518
Investment in subsidiaries			2,495	2,590
Due from affiliates			0	0
Property, plant and equipment, net			1,344	1,285
Goodwill			1,127	1,127
Intangible assets			975	989
Deferred income taxes			297	380
Other non-current assets			63	62
TOTAL ASSETS			10,053	9,951
CURRENT LIABILITIES
Accounts payable and accrued liabilities			631	667
Due to affiliates			0	0
Short-term debt			12	25
Long-term debt – current portion			2	1
Total current liabilities			645	693
Long-term debt, net of current portion			14	15
Due to affiliates			815	881
Pension plan liability			0	0
Other employee benefits liability			231	237
Deferred income taxes			0	0
Other liabilities			175	175
OWENS CORNING STOCKHOLDERS' EQUITY
Preferred stock			0	0
Common stock			0	0
Additional paid in capital			6,293	6,371
Accumulated earnings			1,880	1,579
Accumulated other comprehensive deficit			0	0
Cost of common stock in treasury			0	0
Total Owens Corning stockholders’ equity			8,173	7,950
Noncontrolling interests			0	0
Total equity			8,173	7,950
TOTAL LIABILITIES AND EQUITY			10,053	9,951
Non Guarantor Subsidiaries
CURRENT ASSETS
Cash and cash equivalents			60	66	45	54
Receivables, less allowances			861	674
Due from affiliates			0	0
Inventories			257	290
Assets held for sale			14	16
Other current assets			90	94
Total current assets			1,282	1,140
Investment in subsidiaries			559	558
Due from affiliates			815	881
Property, plant and equipment, net			1,079	1,143
Goodwill			40	41
Intangible assets			215	238
Deferred income taxes			26	29
Other non-current assets			132	128
TOTAL ASSETS			4,148	4,158
CURRENT LIABILITIES
Accounts payable and accrued liabilities			244	235
Due to affiliates			1,048	945
Short-term debt			6	6
Long-term debt – current portion			1	2
Total current liabilities			1,299	1,188
Long-term debt, net of current portion			122	125
Due to affiliates			0	0
Pension plan liability			118	137
Other employee benefits liability			12	15
Deferred income taxes			18	22
Other liabilities			45	43
OWENS CORNING STOCKHOLDERS' EQUITY
Preferred stock			0	0
Common stock			0	0
Additional paid in capital			1,703	1,927
Accumulated earnings			792	663
Accumulated other comprehensive deficit			0	0
Cost of common stock in treasury			0	0
Total Owens Corning stockholders’ equity			2,495	2,590
Noncontrolling interests			39	38
Total equity			2,534	2,628
TOTAL LIABILITIES AND EQUITY			4,148	4,158
Consolidation Eliminations
CURRENT ASSETS
Cash and cash equivalents			0	0	$ 0	$ 0
Receivables, less allowances			0	0
Due from affiliates			(3,170)	(2,858)
Inventories			0	0
Assets held for sale			0	0
Other current assets			0	0
Total current assets			(3,170)	(2,858)
Investment in subsidiaries			(10,668)	(10,540)
Due from affiliates			(815)	(881)
Property, plant and equipment, net			0	0
Goodwill			0	0
Intangible assets			(186)	(210)
Deferred income taxes			0	0
Other non-current assets			0	0
TOTAL ASSETS			(14,839)	(14,489)
CURRENT LIABILITIES
Accounts payable and accrued liabilities			0	0
Due to affiliates			(3,170)	(2,858)
Short-term debt			0	0
Long-term debt – current portion			0	0
Total current liabilities			(3,170)	(2,858)
Long-term debt, net of current portion			0	0
Due to affiliates			(815)	(881)
Pension plan liability			0	0
Other employee benefits liability			0	0
Deferred income taxes			0	0
Other liabilities			(186)	(210)
OWENS CORNING STOCKHOLDERS' EQUITY
Preferred stock			0	0
Common stock			0	0
Additional paid in capital			(7,996)	(8,298)
Accumulated earnings			(2,672)	(2,242)
Accumulated other comprehensive deficit			0	0
Cost of common stock in treasury			0	0
Total Owens Corning stockholders’ equity			(10,668)	(10,540)
Noncontrolling interests			0	0
Total equity			(10,668)	(10,540)
TOTAL LIABILITIES AND EQUITY			$ (14,839)	$ (14,489)

[1]	shares authorized; none issued or outstanding at September 30, 2015, and
[2]	0 shares authorized; 135.5 issued and 116.7 outstanding at September 30, 2015; 135.5 issued and 117.8 outstanding at
[3]	shares at September 30, 2015, and 17.7 shares at

CONDENSED CONSOLIDATED STATEM63

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (DETAIL) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	$ 384	$ 62
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Additions to plant and equipment	(240)	(216)
Proceeds from the sale of assets or affiliates	3	65
Purchases of alloy	(8)	(25)
Proceeds from sale of alloy	8	25
Net cash flow used for investing activities	(237)	(162)
NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	1,079	1,068
Payments on senior revolving credit and receivables securitization facilities	(1,082)	(919)
Payments on long-term debt	(8)	(1)
Net increase (decrease) in short-term debt	(10)	21
Cash dividends paid	(58)	(37)
Purchases of treasury stock	(86)	(44)
Other intercompany loans	0	0
Other	18	7
Net cash flow (used for) provided by financing activities	(147)	95
Effect of exchange rate changes on cash	(5)	(1)
Net decrease in cash and cash equivalents	(5)	(6)
Cash and cash equivalents at beginning of period	67	57
Cash and cash equivalents at end of period	62
Payments to Acquire Businesses, Net of Cash Acquired	0	12
Proceeds from Insurance Settlement, Investing Activities		0
Derivative, Cash Received on Hedge		(1)
Parent Company
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	(54)	(54)
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Additions to plant and equipment	(16)	(9)
Proceeds from the sale of assets or affiliates	0	44
Purchases of alloy	0	0
Proceeds from sale of alloy	0	4
Net cash flow used for investing activities	(16)	39
NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	943	1,018
Payments on senior revolving credit and receivables securitization facilities	(942)	(919)
Payments on long-term debt	(5)	0
Net increase (decrease) in short-term debt	0	0
Cash dividends paid	(58)	(37)
Purchases of treasury stock	(86)	(44)
Other intercompany loans	200	(10)
Other	18	7
Net cash flow (used for) provided by financing activities	70	15
Effect of exchange rate changes on cash	0	0
Net decrease in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0
Payments to Acquire Businesses, Net of Cash Acquired		0
Proceeds from Insurance Settlement, Investing Activities		0
Derivative, Cash Received on Hedge		0
Guarantor Subsidiaries
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	221	131
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Additions to plant and equipment	(170)	(120)
Proceeds from the sale of assets or affiliates	0	0
Purchases of alloy	0	0
Proceeds from sale of alloy	0	0
Net cash flow used for investing activities	(170)	(125)
NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	0	0
Payments on senior revolving credit and receivables securitization facilities	0	0
Payments on long-term debt	(1)	0
Net increase (decrease) in short-term debt	(13)	0
Cash dividends paid	0	0
Purchases of treasury stock	0	0
Other intercompany loans	(36)	(3)
Other	0	0
Net cash flow (used for) provided by financing activities	(50)	(3)
Effect of exchange rate changes on cash	0	0
Net decrease in cash and cash equivalents	1	3
Cash and cash equivalents at beginning of period	1	3
Cash and cash equivalents at end of period	2
Payments to Acquire Businesses, Net of Cash Acquired		5
Proceeds from Insurance Settlement, Investing Activities		0
Derivative, Cash Received on Hedge		0
Non Guarantor Subsidiaries
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	217	(15)
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Additions to plant and equipment	(54)	(87)
Proceeds from the sale of assets or affiliates	3	21
Purchases of alloy	(8)	(25)
Proceeds from sale of alloy	8	21
Net cash flow used for investing activities	(51)	(76)
NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	136	50
Payments on senior revolving credit and receivables securitization facilities	(140)	0
Payments on long-term debt	(2)	(1)
Net increase (decrease) in short-term debt	3	21
Cash dividends paid	0	0
Purchases of treasury stock	0	0
Other intercompany loans	(164)	13
Other	0	0
Net cash flow (used for) provided by financing activities	(167)	83
Effect of exchange rate changes on cash	(5)	(1)
Net decrease in cash and cash equivalents	(6)	(9)
Cash and cash equivalents at beginning of period	66	54
Cash and cash equivalents at end of period	60
Payments to Acquire Businesses, Net of Cash Acquired		7
Proceeds from Insurance Settlement, Investing Activities		0
Derivative, Cash Received on Hedge		(1)
Consolidation Eliminations
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	0	0
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Additions to plant and equipment	0	0
Proceeds from the sale of assets or affiliates	0	0
Purchases of alloy	0	0
Proceeds from sale of alloy	0	0
Net cash flow used for investing activities	0	0
NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	0	0
Payments on senior revolving credit and receivables securitization facilities	0	0
Payments on long-term debt	0	0
Net increase (decrease) in short-term debt	0	0
Cash dividends paid	0	0
Purchases of treasury stock	0	0
Other intercompany loans	0	0
Other	0	0
Net cash flow (used for) provided by financing activities	0	0
Effect of exchange rate changes on cash	0	0
Net decrease in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	$ 0
Payments to Acquire Businesses, Net of Cash Acquired		0
Proceeds from Insurance Settlement, Investing Activities		0
Derivative, Cash Received on Hedge		$ 0